PC House Holdings PLC has decided to dispose its 100 percent stake amounting to 5,650,752 in its subsidiary Beico Link Carbon Private Limited, a carbon manufacturing concern, for Rs. 180 million, including bank and other liabilities to avert a crisis the company is faced with.

The PC House board of directors had decided on this avenue at a recent board meeting and has informed the Colombo Stock Exchange accordingly.

Beico Link Carbon (Pvt) Ltd is to be sold to MMD Lanka Ventures Private Limited. While several creditors have filed legal action against Beico Link Carbon (Pvt) Ltd this has been a huge obstacle to the smooth functioning of the company.

DFCC Vardhana Bank has already sent letters of demand to Beico Link Carbon (Pvt) Ltd and the next course of action would be a Parate Execution on the property mortgaged by Beico Link Carbon (Pvt) Ltd.

Meanwhile, PC House Holdings has stated that the group is unable to repay the loans and hence the best solution to avert a crisis at Beico Link Carbon (Pvt) Ltd is to dispose it as a going concern.