KSL & Industries to construct new real estate projects

KSL & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on November 30, 2006, inter alia, has considered and approved the following:

1. New Real Estate Projects at multi states and multi location comprising of Malls, Multiplexes, I.T. Parks, Commercial Space, Hotels, Residential Buildings, Warehouses, Restaurants aggregating approximately 2 crores square feet.

2. With the permission of the chair, the Board has also considered and accepted the Sanction Letter received from General Insurance Corporation of India for investment in the Equity Shares of the Company.

3. The Board has considered Preferential Issue of Equity Shares to Institutions for Textiles and Real Estate Projects of the Company.

4. The Notice of Extra Ordinary General Meeting to be held on December 26, 2006 for passing the resolution u/s 81(1 A) of the Companies Act, 1956 has been approved by the Board.

Source : Equity Bulls

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