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Board of Best Agrolife approves proposal to acquire Best Crop Science LLP
Jun. 1, 2021
Best Agrolife Limited
IndiaFollow
IndiaThe Board of Best Agrolife at its meeting held on 31 May 2021 has approved the following proposals:
Accepted the proposal to acquire Best Crop Science LLP (after its conversion into Private Limited Company), for backward integration in the form of technical manufacturing of insecticides, herbicides, Fungicides & PGRs.
Best Crop Science LLP has emerged as a significant supplier of crop protection products. It is an ISO 9001:2000 certified and is having an annual turnover of Rs. 350 crore (as per provisional Balance sheet dated 31 March 2021) and currently operating a large modern manufacturing and technical unit which is an integrated state of art plant designed to produce various technical grade pesticides.
To give Corporate Guarantee on behalf of Best Crop Science LLP for an interim period to fulfil the stipulation of Axis Bank, Yes Bank and Standard Chartered Bank for an amount not exceeding Rupees 100 crore from removal till restoration of their charges in the resultant converted Private Limited Company.
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