Kings Infra Ventures board gives nod to the resolution of partial release of property from mortgage with debenture-holders

20 Jun 2022 , 02:31 PM

The Board of Directors of Kings Infra Ventures Ltd has approved the following resolution by circulation on June 18, 2022.

As per the regulatory filing, the board approved partial release of property valued at Rs12.5 crore located at Rayimel Desom, Puthuvassery Kara, Chengamandu Village, Aluva Taluk, Ernakulam District, Kerala, out of the total property value of Rs25 crore mortgaged in favour of Debenture Trustee Vistra ITCL (India), subject to approval by Debenture Holders of the Company and approval of draft notice of Debenture Holders Meeting.

Nanditha T, Company Secretary and Compliance Officer is authorized to issue the notice to the Debenture holders.

Further, Balagopalan Veliyath, Whole Time Director of the company is authorized to do such acts, deeds, matters and things as may be necessary, desirable or expedient, in order to give effect to the resolution.

At around 2:32 PM, Kings Infra Ventures was trading at Rs68.30 per share down by Rs2.25 or 3.19% from its previous closing of Rs70.55 per share on the BSE.