In furtherance to intimations dated April 23, 2019 and August 14, 2019, Indiabulls Real Estate has informed that pursuant to and in terms of the authorization of shareholders of the Company vide special resolution passed at Annual General Meeting held on 28th September 2019, with almost 100% favorable votes without participation of the promoters and promoter group, the Company’s wholly owned subsidiary has divested its entire stake in Century, which indirectly owns Hanover Square property, London (London Property), to Clivedale Overseas, an entity owned by the Promoters of the Company. With this, the Century ceases to be a subsidiary of the Company. The details, in terms of Regulation 30 of SEBI LODR read with SEBI Circular no CIR/CFD/CMD/4/2015, dated September 9, 2015, are attached.
The above information is a part of company’s filings submitted to BSE.
