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| Exchange Disseminated Time | Prime Urban Development India Ltd has now informed BSE that the Board of Directors of the Company at its meeting held on February 03, 2015, has transacted the following:
- The Company has decided to invest a sum of Rs. 1.00 lac in M/s. Patodia Developers Private Limited (incorporated in 2008), by way of acquisition of 100% equity shares at par value and to make M/s. Patodia Developers Private Limited as a Wholly owned Subsidiary company for development of the Landed property held by the Company. Pursuant to Section 186(2) of the Companies Act 2013, the investment in M/s. Patodia Developers Private Limited is well within the limit of not exceeding 60% of its Paid up Capital and Free Reserves of the Company. |
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