Date: June 30, 2026
Board Meeting Outcomes
- The company has undertaken the sale of its non-core assets situated at Madhavaram village, Chennai, Tamil Nadu.
- The sale is in line with the resolution plan for the company submitted by Pristine Malwa Logistics Park Private Limited and approved by the National Company Law Tribunal, Chennai bench.
Disinvestment / Strategic Actions
Asset Details:
- Type: Non-core assets comprising a parcel of land along with building
- Location: Madhavaram village, Chennai, Tamil Nadu
- Area: 1 acre and 82.8 cents (79,627.68 sq.ft.)
Transaction Details:
- Sale agreement date: June 30, 2026
- Expected completion date: June 30, 2026
- Consideration: ₹18,00,00,000/- (Rupees eighteen crore only)
- Buyer: Roshan Foundations Limited (a public limited company with CIN U68100TN1995PLC031998)
- Buyer's registered office: 4, Atkinson Road, IInd Floor, Vepery, Chennai, Tamil Nadu 600007, India
Relationship with Buyer:
- The buyer does not belong to the promoter/promoter group/group companies of Sical Logistics Limited.
- The transaction does not qualify as a related party transaction.
Financial Impact:
- The sold assets contributed nil to the company's turnover or revenue or income and net worth during the last financial year.
Regulatory Context:
- The sale is mandated by the resolution plan approved by the Hon'ble National Company Law Tribunal, Chennai bench under Section 31 of Insolvency and Bankruptcy Code, 2016, as amended, vide its order dated December 08, 2022.
- The transaction does not fall under a slump sale or amalgamation/merger scheme.
Other Operational / Legal / Strategic Disclosures
- The disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI master circular no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.
- The information will be hosted on the company website at https://sical.in/