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RMZ group to develop part of Kamalistan Studio land

Posted On: 2019-06-10 14:21:14

D B Realty Ltd had announced that interse pending disputes between erstwhile and existing shareholders of Mahal Pictures Private Limited (MMPL), an Associate of the company (33.33%), which owns the land and property (popularly known as "Kamalistan Studio") at Jogeshwari Vikhroli Link Road in Mumbai, has been put to rest and the concerned parties have successfully filed consent terms on 4th June 2019 in the Hon'ble Bombay High Court.

Pursuant thereto, MMPL and the shareholders of the MMPL (which includes the Company) has arrived at an in principle understanding to sell and develop part of the land belonging to MMPL with RMZ Group into one of India's largest Corporate Office Park. The understanding is subject to a number of conditions precedent to be fulfilled by the parties and definitive documents will be entered accordingly.

Shares of D B Realty Ltd was last trading in BSE at Rs.14.2 as compared to the previous close of Rs. 14.07. The total number of shares traded during the day was 38513 in over 133 trades.

The stock hit an intraday high of Rs. 14.2 and intraday low of 13.4. The net turnover during the day was Rs. 530442.


Source: Equity Bulls

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