HB Estate Developers transfer entire business of Parsavnath Developers (AOP)

22 Oct 2012

HB Estate Developers has transferred the entire business of ‘Parsavnath Developers (AOP)’, as a going concern to Gazala Promoters and Developers and the AOP is being wound up. Parsavnath Developers (AOP) is an Association of Persons formed in the year 2005 between the company and Parsavnath Developers for undertaking the business of real estate development.

Further, the company and its nominees have acquired 49% equity shares in Gazala Promoters and Developers and the remaining 51% has been acquired by Parsavnath Developers and its nominees.

HB Estate Developers is primarily engaged in the development of commercial complexes. The Company is also planning to enter into development of residential complexes. HB Estate Developers is primarily engaged in the development of commercial complexes. The Company is also planning to enter into development of residential complexes.

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