DLF informed the stock exchanges that as a part of its strategy to consolidate its key rental assets within DLF Cyber City Developers Limited (DCCDL) platform and to settle the inter-company payables owed by DLF and its wholly-owned subsidiaries (“DLF Group”) to DLF Cyber City Developers Limited and its wholly-owned subsidiaries (“DCCDL Group”), the interest of the DLF Group in certain commercial assets and land parcels allocated for commercial development was proposed to be transferred to the DCCDL Group.
The Inter-Company Payables (net of capital advances) to DCCDL Group as of the beginning of 2019 was in excess of Rs8,700cr, which had been reduced to Rs5,54cr by June 30, 2019. The company are pleased to inform you that the Inter-Company Payables have now been fully settled.
Post a Comment