Bayer CropScience on Monday announced plans to sell around 100 acres of its land near Thane, in Maharashtra.
Bayer CropScience Ltd today informed the Bombay Stock Exchange that its board of directors at its meeting has approved a proposal to sell the property.
The company owns land admeasuring 100 acres or thereabouts at Balkum village, Thane, which was mainly used for manufacturing of crop protection products.
Bayer CropScience said it would sell the property on an "as is where is" basis, subject to receipt of all approvals and permissions as may be required for such sale.
The company has also decided to seek approval from the members under section 293(1)(a) of the Companies Act, 1956 by postal ballot, to transfer, sell, or otherwise dispose of the company's land situated at Balkum village, Thane.
The company also today approved the notice to be sent to the members, appointed a scrutiniser and authorised officials of the company to carry out the postal ballot process.