Insolvency tribunal NCLT has greenlit Parmesh Construction Company's acquisition of a 4.26% stake in Entertainment City, dismissing Unitech Holding's objections. The tribunal ruled that the share transfer by minority investors was valid, despite Unitech's claims of violated shareholder agreements. This decision stems from a broader 100% disinvestment process for Entertainment City, where Parmesh Construction emerged as the successful bidder.
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NCLT directs Entertainment City to register minority stake in favour of Parmesh Construction
