Cineline India has received an approval for acquisition of 100% equity shares of R&H Spaces by Company's wholly owned subsidiary i.e.'Transquare Realty' by executing Share Purchase agreement with related party, subject to approval of Members pursuant to Section 188 of the Companies Act, 2013 read with the Companies (Meeting of Board and its Powers) Rules, 2014 and Regulation 23 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
The Board of Directors of the Company at their meeting held on November 27, 2020 have accorded their approval for the same.