INSUBCONTINENT EXCLUSIVE:
to become debt-free by March 2019.
The board decided to seek fresh shareholder approval for the issue, with the current validity set to end
on December 26, DLF said in a stock exchange filing on Wednesday.
Separately, the company said group chief financial officer Saurabh Chawla
had resigned to explore new professional opportunities
Chawla, who had been associated with DLF for 12 years in various capacities, was elevated as group CFO in December 2017.
Ashok Kumar Tyagi,
a wholetime director who was group CFO until December 2017, will assume responsibility and functions of the role
The company repaid some bank loans and transferred a substantial part of its debt to the rental business joint venture.
Following the GIC
venture, DLF promoters KP Singh and family infused Rs 9,000 crore in the company and they are expected to infuse an additional Rs 2,250
crore over the next few months.
An infusion of funds by the promoters would lead to a rise in their shareholdings above the permissible
