Babri Cotton Mills to lease building, plant & machinery to Janana De Malucho Textile to avoid losses

MG News | October 01, 2020 at 02:37 PM GMT+05:00

0:00

October 01, 2020 (MLN): For the maintenance of Spinning machinery, the BoD of Babri Cotton Mills Limited, in its meeting held on Sept 24, 2020, has decided to lease the building and plant & machinery of the company as a stop-gap arrangement.

In this regard, the company has offered the lease to Janana De Malucho Textile Mills Ltd (an associated company) w.e.f October 1, 2020, to June 30, 2021, in order to keep the plant & machinery from irreparable damage due to its closure since 25^th March 2020 while saving the company from further colossal loss and keeping the spinning machinery in excellent working condition, as per the notice issued to PSX.

This is an interim arrangement till the completion of both the entities, as declared earlier.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	88,175.00	89,510.00 85,135.00	3355.00 3.96%
BRENT CRUDE	60.01	60.37 59.40	0.19 0.32%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.25 2.54%
ROTTERDAM COAL MONTHLY	97.50	0.00 0.00	1.10 1.14%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.21	56.56 55.61	0.21 0.38%
SUGAR #11 WORLD	14.76	14.80 14.45	0.28 1.93%