GE T&D India Ltd board has approved a proposal to sell its Global Engineering Operations Division (GEOD Business) to GE India Industrial Private Ltd (GEIIPL) via a slump sale for a cash consideration of Rs 140.6 crore. "The company has, in the meeting of its board of directors that was held on January 24, 2022, agreed to sell its Global Engineering Operations Division (India for Global) (GEOD Business) to GE India Industrial Private Ltd (GEIIPL) (a related party) together with the assets and manpower comprised therein along with its corresponding liabilities by way of a slump sale on an "as is where is" basis," a BSE filing said. The GEIIPL (the buyer) is a company incorporated under the Companies Act, 1956, and it is a part of the General Electric Group. As per the filing, the lump sum consideration for sale is Rs 140.6 crore and the Business Transfer Agreement is expected to be executed by January 31, 2022. The expected date of completion of sale is March 31, 2022, subject to .
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