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Catafago Fini LLP Successfully Defends Manhattan Cooperative Building in Appeal
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The Supreme Court of New York, First Judicial Department, upholds the dismissal of a purported class action against the board of directors of the Turin Housing Development Fund Company
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“The First Department’s decision here correctly recognizes that boards of directors of cooperative apartment buildings need the flexibility to exercise business judgment when making decisions regarding their operations. NEW YORK (PRWEB) January 28, 2021 On January 12, 2021, Catafago Fini LLP scored a major victory in the Appellate Division of the New York Supreme Court, First Judicial Department, which upheld the dismissal of a purported class action against the board of directors of a cooperative apartment building. The First Department upheld dismissal because the plaintiff’s claims were derivative in natu
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The company expects to complete the stake sale in four months for a cash consideration of ₹232.81 crore
Housing Development Finance Corporation (HDFC) said it plans to sell 24.48 per cent stake in Good Host Spaces Pvt. Ltd for a cash consideration of ₹232.81 crore.
In a regulatory filing, HDFC said it has entered into a share purchase agreement for sale of 47,75,241 equity shares of ₹1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host.
The Corporation expects to complete the sale of its take in Good Host, which provides hostel services, guest house services, service apartments and leasing of property for hostel services, in four months.
Updated Jan 21, 2021 | 13:12 IST
Good Host, which is engaged in providing hostel services, guest house services, service apartments and leasing of property for hostel services, had reported a turnover of Rs 112.6 crore in fiscal 2019-20. Representational image
Mumbai: Non-banking finance company Housing Development Finance Corporation (HDFC) has signed a pact to sell its 24.48 per cent stake in Good Host Spaces, a company engaged in the business of managing student housing facilities, for nearly Rs 233 crore.
HDFC said the aggregate sale consideration for the sale shares is Rs 232.81 crore which is subject to various customary adjustments as agreed between the parties, and the final sale consideration will be calculated accordingly.