The annual report 2024 of the Tirunelveli-registered ICML indicates that the company suspended operations owing to the business becoming unviable on the grounds highlighted in our previous reports
India Cements is selling its entire equity investment held in Industrial Chemicals and Monomers Ltd (ICML) to Mirai Sensing Private Ltd for Rs98 crores, the company said in an announcement to the Bombay Stock Exchange.
Upon completion of the said sale, ICML would cease to be a subsidiary, the announcement adds.
The annual report 2024 of the Tirunelveli-registered ICML indicates that the company suspended operations owing to the business becoming unviable on the grounds highlighted in our previous reports. The company is evaluating various options for its revival, it adds.
