India Glycols Ltd. has transferred its shareholding in Shakumbari Sugar and Allied Industries Ltd. to Faith Mercantile Pvt. Ltd., Meir Commodities India Pvt. Ltd., and R K and D Investment Pvt. Ltd. in two tranches, receiving a total amount of Rs. 17,61,314 and the acquirers have paid a total amount of Rs. 90,28,23,686 towards repayment of the ICDs of SSAIL, resulting in SSAIL ceasing to be an associate company of India Glycols Ltd.