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| Exchange Received Time 04/03/2017 18:01:21 Exchange Disseminated Time 04/03/2017 18:01:27 Time Taken 00:00:06 | | Dear Sir / Madam, We would like to inform you that the Finance Committee of the Board at its Meeting held on March 4, 2017, has decided to divest its 100% Shareholding of its wholly owned subsidiary company, viz. Excel Arcade Private Limited. HDIL was holding 1954000 shares and had invested Rs. 10,81,50,100 in that Company. It was meant to be a SPV for a project at Vikroli. Since the timeline for the project is uncertain, it was decided to divest the Investment in the Subsidiary Company for Rs. 17,00,00,000. Request you to take the same on records. |
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