Board of Best Agrolife approves proposal to acquire Best Crop Science LLP

At meeting held on 31 May 2021

The 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.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Previous post American Airlines resumes in-flight drink service to main cabin, extends booze ban
Next post Amazonas Florestal Ltd. Announces Investor Approvals for Present Business Plans