Company Nitesh Estates Limited
Industry Construction

Broadcast Date/Time 16-Apr-2018 20:13
Subject Reply to Clarification Sought
Announcement NITESHEST:The Exchange had sought clarification from Nitesh Estates Limited with respect to announcement dated 06-Apr-2018, regarding 'Disclosure under Regulation 30 of LODR - Settlement of Chennai property and Changes in the Board'. 1. Settlement of Chennai property We wish to inform the Exchanges that the Company has settled the dispute in respect of the lease rights of land situated at Chennai . Under the Settlement as decreed through the arbitral award, the Company will receive Rs 15 Cr., as per the terms of the award. 2. Changes in the Board Further to our announcement of appointment of Mr. Mahesh Bhupathi as an Independent Director on the Board of the Company, We wish to inform you that Mr. M D Mallya (DIN 01804955) has resigned from the Board effective 5th April 2018. The Composition of Board is meeting the requirements of SEBI LODR. Request you to take this on record.". On basis of above the Company is required to clarify following: 1. Brief profile (in case of appointment);The response of the Company is enclosed.
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