Binny has informed that a meeting of the Board of Directors of the company was convened today has considered and approved the Draft Term Sheet for the settlement of an arbitral dispute with Joint Development Partner SPR Construction based on the report of the Special Committee appointed by the Board under the Chairmanship of Hon'ble Retd Justice Shri Bhaskar. The settlement will be formalized through an Amended Joint Development Agreement to the Shareholders for their approval as required under Section 180 and other applicable provisions of the Companies Act 2013 and applicable SEBI (LODR) regulations.
The above information is a part of company’s filings submitted to BSE.
