KOLTE-PATIL DEVELOPERS LTD. - Outcome of Board Meeting

Kolte-Patil Developers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 05, 2015, has considered and approved the following:-<BR><BR>1. Appointment of Mr. Atul Bohra as Chief Financial Officer of the Company with effect from November 05, 2015 in place of Mrs. Shraddha Jain.<BR><BR>2. Scheme of amalgamation of Corolla Realty Limited, 100% Wholly Owned Subsidiary. This merger is being planned in order to synergize the operational and business efficiencies of this Company. The Scheme of Amalgamation is subject to necessary regulatory approvals.