SRS Real Infrastructure has received an approval to sell its whole shareholding of Joint Venture Company (JVC) ‘SRS Lotus Projects’ for a consideration of Rs 50 lakh. Consequently, SRS Lotus Projects would cease to be Joint Venture Company. The board of director at its meeting held on April 25, 2016 has approved for the same.
The company has entered into agreement for sale on April 25, 2016 while the completion of sale is expected by April 30, 2016.
SRS Real Infrastructure is the flagship company of the SRS Group in the real estate sector. The company is the holding company of real estate business of the SRS Group and conducts activities on their own or through their subsidiaries.