Sunteck Realty : Amalgamation/Merger

Date: 10th November, 2022

SRL/SE/54/22-23

National Stock Exchange of India Ltd

BSE Limited

Exchange Plaza, Plot no. C/1, G Block,

Phiroze Jeejeebhoy Tower,

Bandra-Kurla Complex, Bandra (East),

Dalal Street,

Mumbai- 400 051

Mumbai - 400 001

Symbol: SUNTECK

Scrip Code: 512179

Annexure-A

Sr.

Particulars

Description

No.

1.

Name

of

the

Scheme of Amalgamation involving:

entity(ies)

forming

Transferor Company:

part

of

the

Starlight Systems (I) Private Limited

amalgamation/

Transferee Company:

merger,

details

in

Sunteck Realty Limited

brief

such

as, size,

The entire issued, subscribed and paid up Capital of the

turnover etc.

Transferor Company is held directly/ indirectly by the

Transferee Company.

(Rs. in Crs)

Particulars

Networth as on

Turnover as

30-09-2022

on 30-09-2022

Transferor

634.97

35.74

Company

Transferee

1910.51

63.82

Company

2.

Whether

the

The Transferor Company is a wholly-owned subsidiary of the

transaction

would

Transferee Company and as such related party to each other.

fall within

related

However, the Ministry of Corporate Affairs has clarified vide

party transactions? If

its General Circular No. 30/2014 dated July 17, 2014 that

yes,

whether

the

transactions arising out of Compromise, Arrangements and

same

is

done

at

Amalgamations dealt with under specific provisions of the

"arms length"

Companies Act, 2013, will not fall within the purview of

related party transaction in terms of Section 188 of the

Companies Act, 2013. Further, pursuant to Regulation

23(5)(b) of the Listing Regulations, the related party

transaction provisions are not applicable to the proposed

Scheme.

3.

Area of business of

Transferee Company is in the business of real estate

the entity(ies)

development of residential and commercial premises.

Transferor Company is in the business of real estate

construction/ real estate development and incidental services.

4.

Rationale for

The amalgamation of the Transferor Company with the

amalgamation/

Transferee Company would include the following benefits:

merger

∙ Cost savings through legal entity rationalisation;

∙ Simplification of group structure;

∙ Reduction of administrative responsibilities, multiplicity

of records and legal & regulatory compliances; and

∙ Operational synergies resulting in cost optimization.

5th Floor, Sunteck Centre, 37-40 Subhash Road, Vile Parle (East), Mumbai 400057. Tel: +91 22 4287 7800 Fax: +91 22 4287 7890

Website: www.sunteckindia.comCIN: L32100MH1981PLC025346

Email Id: cosec@sunteckindia.com

Sr.

Particulars

Description

No.

5.

In case of cash

There is no cash consideration involved.

consideration -

The Transferor Company is a wholly-owned subsidiary of the

amount or

Transferee company and the entire share capital of the

otherwise

Transferor company is held directly/ indirectly by the

share exchange

Transferee Company. Accordingly, upon coming into effect of

ratio;

the Scheme, there will be no issue and allotment of shares as

consideration for the Scheme.

6.

Brief details of

There will be no change in the shareholding pattern of the

change in

Company pursuant to the Scheme, as no shares are being

shareholding

issued by the Company in connection with the Scheme.

pattern (if any) of

listed entity.

RACHANA

Digitally signed by

RACHANA VIPUL

VIPUL

HINGARAJIA