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| Exchange Disseminated Time 11/11/2016 08:43:57 | Prakash Constrowell Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 10, 2016, which commenced on 3.00 p.m. and concluded on 7.50 p.m., inter alia, has transacted the following:
1. Considered and approved the investment by way of acquisition of 100% Equity Share Capital of Bhumit Real Estate Private Limited. The details required in terms of Regulation 30 of SEBI (LODR), 2015 read with SEBI Circular dated September 09, 2015.
2. Considered and approved the Scheme of Arrangement ("Scheme") involving demerger of specified undertaking of the Company ("Demerged Company”) into Bhumit Real Estate Private Limited ("Resulting Company") under the provisions of sections 391-394 read with section 100 of Companies Act, 1956 and / or other applicable provisions of Companies Act, 1956 or Companies Act, 2013, as the case maybe. |
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