VIP Industries to sell Mumbai property to promoter-group firm for 40.7 crore

VIP Industries is selling its Mumbai property, VIP House, to Kemp & Company. The deal is valued at 40.71 crore. This transaction is considered a related-party deal but is not material. Shareholder approval is required for Kemp & Company. VIP Industries holds a small stake in Kemp & Company. The sale is on an as-is-where-is basis.