Systematix Corporate Services Acquires 80% Stake in Urban Affordable Housing LLP

Systematix Corporate Services Limited has acquired an 80% stake in Urban Affordable Housing LLP, a Real Estate company incorporated on 10/01/2018. The transaction is valued at Rs. 1,60,000/- and falls within the ambit of related party transactions. The acquisition is an investment in the Urban Affordable Housing LLP for its working capital requirements. No governmental or regulatory approvals are required for the acquisition. The acquisition is expected to be completed within the statutory timelines. The consideration is in the form of cash. Post-acquisition, Systematix Corporate Services Limited will have 80% stake in Urban Affordable Housing LLP. Urban Affordable Housing LLP has a history of last 3 years turnover as NIL and is present in India.