Breaking News – Track2Realty Impact
DB Realty Ltd has informed BSE that the Board of Directors of the Company on March 05, 2011 has noted and accepted the resignations of Mr. Shahid Balwa, as Managing Director and also as Director of the Company with effect from February 09, 2011 in view of his preoccupation relating to certain investigations. This does not however reflect on Mr. Shahid Balwa who in his individual capacity is strongly contesting the proceedings in the court and is taking all the necessary legal steps to defend himself and his fair name. Needless to state that at DB Realty will continue to have immense faith in the Indian judiciary and are confident that truth shall prevail in the end. We would also like to state that the resignation of Mr. Shahid Balwa will not affect the functioning of DB Realty Ltd in any manner whatsoever and the company will continue its normal course of business.
