NEW DELHI: National company law tribunal (NCLT)-Mumbai bench has approved the scheme of amalgamation of Kingmaker Developers (KDPL), the wholly-owned subsidiary of Keystone Realtors, with Real Gem Buildtech (RGBPL).
On November 6, 2023, DB Realty had executed a share purchase agreement to dispose off its 100% stake in equity and preference shares in RGBPL for a consideration of approximately Rs 231.42 crore to KDPL.
Upon the scheme becoming effective, KDPL will cease to be subsidiary of the company, and RGBPL will become wholly-owned subsidiary of the company.
