Griffin Partners Limited agreed to acquire Amar Chitra Katha Pvt. Ltd. from Future Consumer Limited (BSE:533400) for approximately INR 440 million on August 8, 2018. As on September 29, 2018, definitive agreement has been executed by Future Consumer Limited to sell its stake in Amar Chitra Katha to India Special Situations Scheme 1 .Upon completion, Amar Chitra Katha Pvt. Ltd. shall cease to be a subsidiary of Future Consumer Limited. As on March 31, 2018, Amar Chitra reported turnover of INR 306.8 million and net liability of INR 266 million. The transaction has been approved by the Board of Future Consumer Limited on August 8, 2018. The transaction is expected to be completed on December 31, 2018. Gautam Saha and Swati Chauhan of AZB acted as legal advisor to Elephant Capital Group.