Satra Properties (India) has informed that the Company is undergoing CIRP vide Hon’ble NCLT Mumbai Bench order dated August 3,2020, Devarajan Raman, Resolution Professional is now in control of the Company. Pursuant to the said order and in consonance with the stipulation contained in Section 17 of the IBC, 2016, the powers of the Board of Directors of the Company stand suspended and the same are vested and exercised by Devarajan Raman, Resolution Professional. The Resolution Professional has considered and adopted the audited Standalone Financial Results for the year ended March 31, 2021 along with the audited report thereon.
The above information is a part of company’s filings submitted to BSE.