G M Polyplast Limited has received shareholder approval at its annual general meeting to sell, transfer, or dispose of its machinery and spare parts to its wholly owned subsidiary, Regranix Private Limited.

The transaction will be executed in one or more tranches for a total consideration of up to 2.00 Cr.

This transfer amounts to roughly 4.26% of the company's net worth of 347.47 Cr, while the specific machinery and spare parts involved did not generate any revenue or turnover for the company during the preceding financial year.