After the meeting of Board of Directors on June 18 ^th, 2010 it was decided that Madhav Marbles will suspend its operations from its Marble Division at Udaipur. The Outcome of the Board Meeting of Madhav Marbles & Granites Ltd has informed (Mumbai Stock Exchange) BSE that the Board of Directors of the Company in its meeting held on October 16 ^th, 2010, has confirmed and concluded with the buyer for the purchase of its assets. From many of the offers received; BOD’s finalized the offer by M/s. Mahatma Marble and Granite Pvt. Ltd. Udaipur as the most competitive and ready for action proffer. Mahatma Marble and Granite will acquire the capital assets such as Land, Building, Plant & Machinery and related Stores and Spares of the Marble division of Udaipur. Though the financial reports haven’t been disclosed by the company, it is however a well known fact that Madhav Marble and Granite is a leading processor and exporter of premium quality granite and marble. The net profit of Rs 1.37 Crore was reported for the quarter ended June 30 ^th, 2010 with revenue reserves of Rs 15.82 Crore. The sale price of the assets is finalized at Rs 42.1 million. However as per an unconfirmed source of a local business expert from Udaipur; the deal has been finalized at around 70.0 million. Source