Indian Card Clothing : Updates

January 21, 2022

To,
The Listing Department,	The Listing Department,
BSE Limited,		National Stock Exchange of India Limited,
P. J. Towers,		Exchange Plaza, C - 1, Block - G,
Dalal Street,		Bandra - Kurla Complex, Bandra (East),
Mumbai - 400001.	Mumbai - 400051.
Security ID	: INDIANCARD	Symbol : INDIANCARD
Security Code : 509692	Series : EQ

Madam / Sirs,

SUB: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") - Sale of Sub-Plot A and Sub-Plot C of the Company forming part of CTS No. 4854 located at Mumbai- Pune Road, Pimpri, Pune - 411018

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In terms of Regulation 30 read with Schedule III of the Listing Regulations and with reference to the captioned subject, we would like to intimate you as under:

1. The Board of Directors of the Company in its meeting held on Thursday, January 20, 2022 which commenced at 6:35 p.m. and concluded at 7:00 p.m., approved sale of Sub-Plot A admeasuring approximately 46,070.45 sq. mtrs. together with the structures standing thereon admeasuring 17,033.01 sq. mtrs., all forming part of the land bearing CTS No. 4854 belonging to the Company located at Mumbai-Pune Road, Pimpri, Pune - 411018 to Panchshil IT Park Private Limited, Pune ("the Buyer") on as-is-where-is basis, for a consideration not below Rs. 122,00,00,000/- (Rupees One Hundred Twenty-Two Crores).
2. In the said meeting the Board also approved sale of Sub-Plot C admeasuring approximately 38,908.87 sq. mtrs. forming part of the land bearing CTS No. 4854 belonging to the Company located at Mumbai-Pune Road, Pimpri, Pune - 411018 to Panchshil Trade and Techpark Private Limited, Pune ("the Buyer") on as-is-where-is basis, for a consideration not below Rs. 103,00,00,000/- (Rupees One Hundred Three Crores).
3. For the purpose carrying out the above sale transactions, the Board of Directors severally authorised Mr. Mehul Trivedi - Deputy Chairman (DIN: 00030481) and Mr. Sanjeevkumar Karkamkar - Director (DIN: 00575970) to execute the Conveyance Deeds, Power of Attorney, Declaration-cum-Indemnity, Possession Letter in favour of the respective Buyers mentioned above or such other documents as may be necessary for executing and completing the above sale transactions.

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THE INDIAN CARD CLOTHING CO. LTD.

"Katariya Capital", A-19, Vidyut Nagar Society,

Lane No. 5, Koregaon Park, Pune - 411001.

CIN : L29261PN1955PLC009579

Accordingly, on January 21, 2022 the purchaser of Sub-Plot A, i.e., Panchshil IT Park Private Limited, Pune paid consideration of Rs. 122,00,00,000/- (Rupees One Hundred Twenty-Two Crores) to the Company and the purchaser of Sub-Plot C, i.e., Panchshil Trade and Techpark Private Limited paid consideration of Rs. 103,00,00,000/- (Rupees One Hundred Three Crores) to the Company. Subsequent to receipt of the consideration by way of cheques, on January 21, 2022, Mr. Sanjeevkumar Karkamkar - Director (DIN: 00575970) executed the respective Conveyance Deeds and other necessary documents on behalf of the Company in favour of the respective Buyers mentioned above. These Conveyance Deeds were then registered with the concerned office of Sub-registrar on the same day, i.e., on January 21, 2022.

Kindly note that the Buyers are third-party buyers and do not belong to the Promoter / Promoter Group / Group Companies and the transaction does not fall under the ambit of Related Party Transactions.

None of the Promoters, Directors, Key Managerial Personnel and/or their relative(s) are interested whether directly / indirectly in the aforesaid sale transactions.

You are requested to take the above intimation on record.

Thanking you,

Yours faithfully,

For The Indian Card Clothing Company Limited

Amogh Barve

Company Secretary and Head Legal & Corporate Affairs

Membership No. : A33080

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