Oberoi Realty has informed the BSE that in an Extra-ordinary General Meeting of the Members of Oberoi Realty which will be held on Thursday, December 1, will consider a resolution to acquire residential premises in Three Sixty West valued at Rs 4,000 Crore.
The notice reads, Special Business which states, “To consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to Regulation 23(4) and other applicable Regulations of the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the applicable provisions of the Companies Act, 2013 (“Act”), if any, read with related rules, if any, each as amended from time to time and the Company’s Policy on Related Party Transaction(s), the approval of the Members be and is hereby accorded to the Board of Directors of the Company (hereinafter referred to as the “Board”, which term shall be deemed to include the Operations Committee or any other Committee constituted/ empowered/ to be constituted by the Board from time to time to exercise its powers conferred by this resolution) to enter into material related party transactions of following nature (whether by way of an individual transaction or transactions taken together or series of transactions or otherwise) with Oasis Realty (“Oasis”) a related party of the Company under Regulation 2(1)(zb) of the SEBI Listing Regulations, on such terms and conditions as may be agreed between the Company and Oasis which will be undertaken at an arm’s length basis, to be entered during the period commencing from the date of passing of this resolution till the expiry of twelve months thereafter:
Nature of transaction: Purchase/ acquisition of one or more residential premises in the project ‘Three Sixty West’ situate at Annie Besant Road, Worli, Mumbai – 400 025 together with all rights, title, interest, benefits, and privileges in respect of the said premises, and the exclusive/ nonexclusive right of usage of car parking spaces, constructed areas appurtenant to the said premises, common areas, facilities, amenities, and conveniences in the said project (“Premises”)
Proposed value of transaction: An aggregate consideration of up to Rs.4000,00,00,000 (Rupees Four Thousand Crore only) and also the payment of applicable corpus fund contribution, levies, duties, fees, cesses, taxes (including GST), costs, charges, deposits, expenses (including stamp duty, registration charges), maintenance, property tax, outgoings, present and future, in respect of the said premises/project.
RESOLVED FURTHER THAT the Board, be and is hereby authorised, to do and perform all such acts, deeds, matters and things, as may be necessary, including finalising the terms and conditions, methods and modes in respect thereof and finalising and executing necessary documents, including contract(s), scheme(s), agreement(s) and such other documents, file applications and make representations in respect thereof and seek approval from relevant authorities, including Governmental/regulatory authorities, as applicable, in this regard and deal with any matters, take necessary steps as the Board may, in its absolute discretion deem
necessary, desirable or expedient, to give effect to this resolution and to settle any question that may arise in this regard and incidental thereto, without being required to seek any further consent or approval of the members or otherwise to the end and intent that the members shall be deemed to have given their approval thereto expressly by the authority of this resolution.
RESOLVED FURTHER THAT the Board, be and is hereby authorised to delegate all or any of the powers herein conferred, to any Director(s), Chief Financial Officer, Company Secretary or any other Officer(s)/ Authorised Representative(s) of the Company, to do all such acts and take such steps, as may be considered necessary or expedient, to give effect to the aforesaid resolution(s).
RESOLVED FURTHER THAT all actions taken by the Board or any person so authorized by the Board, in connection with any matter referred to or contemplated in any of the foregoing resolution, be and are hereby approved, ratified and confirmed in all respects.
