Sunteck Realty Ltd appoints two independent directors

The Board of Directors of Sunteck Realty Ltd, based on the recommendations of the Nomination & Remuneration Committee, has, approved the appointment of Mr. Mukesh Jain (DIN: 01316027) and Mr. Chaitanya Dalal (DIN: 00185847) as Independent Directors (Additional Directors), subject to approval of shareholders of the Company at the ensuing Annual General Meeting for a term of up to 5 consecutive years effective from 18th September, 2021.

Mr. Mukesh Ravish Chander Jain and Mr. Chaitanya Champaklal Dalal are not debarred from holding office as Director of the Company, by virtue of any SEBI Order or any other such authority.

Mr. Mukesh Jain is an alumnus of Shri Ram College of Commerce, New Delhi. He has a wide experience of nearly 45 years and started his career as a banker and is presently practicing law from his law office at Bandra Kurla Complex. He specializes in the laws relating to Banking, Real Estate & Insolvency. Over a period of years, he has developed further specialization in redevelopment projects, notably slum redevelopment sector. He is em panelled with several nationalized and other banks for legal advice. He is a regular contributor to newspapers and magazines on laws relating to banking, tenancy law, insolvency law and RERA & various facets of real estate sectors. His experience encompasses fields like banking, real estate, infrastructure, steel, hydro carbons and pharmaceuticals to name a few. He is already on the board of directors of companies in road infrastructure and hydro carbons & advises various real estate companies at board level. Over a period of time he has developed expertise in transaction advisory.

CA. Chaitanya Dalal, is practicing Chartered Accountant, from Mumbai and is Managing Partner of the firm MIs Chaitanya C Dalal & Co, established in 1984 situated at Nariman Point Mumbai.

His array of professional experience consists of Audits - Statutory, Tax, GST, Statutory Bank Branch Audit, CAG, Concurrent, Quality, Internal Audits of various PSUs, PSU Insurance Company, Listed PSU Bank, Listed Companies including G.I.C and New India Assurance Company; Transfer Pricing Audit-International and Domestic, Income Tax Assessments & Litigation , Business Management Consultancy, etc.

He holds certificate for the Lead Auditor's Course of ISO 9000 and has worked as Specialist at the ISO Audit of Reserve Bank of India, Department of Government and Bank Accounts. He also holds certificate for Valuation, Advanced International Taxation, IFRS and Audit of Co-operative Society conducted by ICAI. He was also in the teaching profession for about 25 years and was the Head of the Accountancy Department in Bhavan's College, Chowpatty, Mumbai since 1986.

Shares of Sunteck Realty Ltd was last trading in BSE at Rs. 433.35 as compared to the previous close of Rs. 438.1. The total number of shares traded during the day was 311638 in over 6836 trades.

The stock hit an intraday high of Rs. 464.25 and intraday low of 425.3. The net turnover during the day was Rs. 138232687.

Source : Equity Bulls

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