Kings Infra Ventures Ltd approves partial release of property from mortgage

The Board of Directors of Kings Infra Ventures Ltd has approved the following resolution by circulation on 18th June,2022.

The board approved partial release of property valued at Rs.12.5 Crore located at Rayimel Desom, Puthuvassery Kara, Chengamandu Village, Aluva Taluk, Ernakulam District, Kerala, out of the total property value of Rs.25 Crore mortgaged in favour of Debenture Trustee M/s Vistra ITCL (India), subject to approval by Debenture Holders of the Company and approval of draft notice of Debenture Holders Meeting.

Ms. Nanditha T, Company Secretary and Compliance Officer is authorized to issue the notice to the Debenture holders. Further, Mr. Balagopalan Veliyath, Whole Time Director (DIN:05254460) of the company is authorized to do such acts, deeds, matters and things as may be necessary, desirable or expedient, in order to give effect to the resolution.

Shares of Kings Infra Ventures Limited was last trading in BSE at Rs. 70.55 as compared to the previous close of Rs. 73.45. The total number of shares traded during the day was 19770 in over 91 trades.

The stock hit an intraday high of Rs. 75.65 and intraday low of 69.80. The net turnover during the day was Rs. 1419895.00.

Source : Equity Bulls

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KingsInfraVentures INE050N01010 PropertyRelease