ICICI to sell property to Ketan Parekh

MUMBAI, OCT 3: The ICICI has signed an agreement to this effect with Parekh, the financial institution said adding that it will retain the land and the ground floor (admeasuring approximately 7,105 sq.ft) which is presently occupied partly by ICICI Bank and partly by Central Bank of India.

The purchasers are various group companies owned by Ketan Parekh, ICICI release stated.

According to the sale agreement, the purchasers will also have to bear any other expenses related to levies, if any by the state government. The transaction will be completed on the receipt of 37-I clearance from income tax authorities.