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 May 26, 2015, inter alia, has approved a scheme of merger of "Olive Realty Private Limited and Yashowardhan Promoters and Developers Private Limited" Pune, a Wholly Owned Subsidiary Companies of the Company.<BR><BR>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 including the approval from the Hon'ble High Court of Mumbai.