HLV Ltd approves sale of land at Hyderabad

The Board of Directors of HLV Ltd at their meeting held today have approved the Sale of land owned by the Company at Hyderabad and execution of "Agreement of SaleCum-Irrevocable General Power of Attorney" in favour of Sri Kadiyala Subba Rao the Managing Partner and authorised representative of M/s. Sri Venkateswara Constructions buyer of Company's land in Hyderabad on "as is where is basis" that is subject to taking over all the pending litigations and rival claims of diverse parties on Hyderabad Land for a total consideration of Rs. 84,42,05,254/-. This includes Rs.44,42,05,254/- paid by him towards the settlement of the claim of PBSAMB Projects Private Ltd. on the land with the intervention before the executing court i.e. City Civil Court, Hyderabad in discharge of Company's liability towards PBSAMB Projects Private Ltd. under the Arbitral Award dated 8th September, 2019.

Shares of HLV LIMITED was last trading in BSE at Rs. 28.68 as compared to the previous close of Rs. 29.21. The total number of shares traded during the day was 479182 in over 2650 trades.

The stock hit an intraday high of Rs. 30.53 and intraday low of 28.21. The net turnover during the day was Rs. 13967960.00.

Source : Equity Bulls

Keywords

HLV INE102A01024 LandSale Hyderabad