Modi Naturals approved closure of its Pilibhit, UP manufacturing unit due to non-viable operations as part of bulk oil business consolidation.
The company will sell plant and machinery for ₹63 lakhs but retain the land and building; the buyer is unrelated to promoters.
The unit contributed 4% to standalone turnover and 0.81% to net worth; closure impact is immaterial as spare capacity exists at a nearby plant.
The transaction is not a sale of an undertaking per Companies Act and does not qualify as a related party transaction.