Sunteck Realty has received an approval for proposed scheme of arrangement between the Starlight Systems and Starlight Systems (India) under section 391 to 394 of the Companies Act, 1956. The board at its meeting held on November 14, 2011 has approved for the same.
Sunteck Realty, formerly known as Sunteck Realty & Infrastructure, it is engaged in real estate and construction of residential projects. The company has formed a joint venture with Piramal Enterprises promoted by the Ajay Piramal Group. The JV, called Piramal Sunteck Realty will focus on high-end realty projects in the most sought after locations in metros and select Tier II cities in India and strategic locations across the globe.
Starlight Systems and Starlight Systems (India) are both subsidiaries of the company.