Satra Properties to expand operations outside India

Satra Properties India Ltd has announced that the Board of Directors of the Company at its meeting held on November 23, 2006, inter alia, has transacted the following business:

1. The Board has thoroughly discussed and deliberated on opening a Branch Office preferably in United Arab Emirates (DUBAI) or at any other place abroad to explore the business avenues with very wide global horizons.

2. The Board has also decided to entrust the work of finding the possibilities of opening a branch office abroad in terms of the Company's eye on global horizons to any of its two directors, jointly / severally, Mr Praful N Satra and Mr Rajan P Shah who will submit their findings on the subject to the Board for further development in the subject-matter.

3. The Board has decided to proceed further in respect of the proposed amalgamation of Om Housing Company Pvt Ltd into the Company, under Section 391 to 394A of the Companies Act, 1956 which involves the petition before the High Court concerned among other things.

Source : Equity Bulls

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