The Company has executed a Share Transfer Agreement with a potential Purchaser from Dubai for transfer of its entire Shareholding of 86.5% in the Subsidiary Company.
Cerebra Middle East FZCO, Dubai was not a material subsidiary in nature. The Company has complied with all the procedural compliances as required for execution of the aforesaid Agreement.
Company would like to focus on E waste management now being the core business of the Company. Cerebra will plan expansion in the said area.
The Company would also like to defocus on all other established businesses wherein the margins are poor though the same might not be related to the core business for the Company.