Ravinder Heights Ltd - RAVINDER HEIGHTS Share Price

Summary

Ravinder Heights Limited (RvHL) was incorporated on 15th April 2019 as a wholly owned subsidiary of Panacea Biotec Limited for the purpose of vesting of the demerged Real Estate Business undertaking of Panacea Biotec Limited into the Company, as a going concern. The Company undertakes the business of acquisition, construction, development of townships built-up infrastructure, housing, commercial premises, hotels, resorts, hospital, educational institution, recreational facilities, city and regional level infrastructure. The Board of Directors of Company in its meeting held on 30th May 2019 had approved a Scheme of Arrangement. As per the Scheme of Arrangement between Panacea Biotec Limited (the Demerged Company) and Ravinder Heights Limited (the Resulting Company) and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013 and all other applicable provisions of the Companies Act, 2013, the Real Estate Business Undertaking of the Demerged Company was demerged into the Company. The Scheme was approved by Honble National Company Law Tribunal, Chandigarh Bench on 09th September 2020. The Company has filed the said NCLT Order with the Registrar of Companies, Chandigarh making the Scheme operative from 10th September 2020. Accordingly, all the assets and liabilities pertaining to the Real Estate Business Undertaking, including employees and investment in subsidiaries pertaining to the said Real Estate Business, stand transferred and vested into the... Read More