Future Capital Holdings Ltd has informed BSE that the Company shall be submitting Audited Financial Results for Financial Year ended on March 31, 2008, within three months of the end of the financial year. Hence, the Company will not be submitting unaudited financial results for the quarter ended March 31, 2008, within one month of the end of the financial year.
Future Capital Holdings Ltd has informed BSE that Kshitij CapitaLand Mall Management Pvt Ltd (KCMMPL) is a 50:50 Joint Venture between Future Capital Holdings Ltd (FCH) and CapitaLand Retail India Pte. Ltd. (CapitaLand) with each party holding 50% of KCMMPL.
In this regard, the Company has informed that FCH has acquired the 50% stake of CapitaLand in KCMMPL on April 09, 2008. Accordingly, effective April 09, 2008, KCMMCL has become a wholly owned subsidiary of FCH.
Future Capital Holdings Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 24, 2008, has approved entering into a Marketing and Distribution Rights Agreement with Future Finmart Ltd (FFL), a subsidiary of the Company.
Further the Board has also approved an investment of upto Rupees Forty Seven Crore and Seventy Five Lac in the share capital of Future Finmart Ltd (FFL), a subsidiary of the Company towards enabling the business requirements of the FFL in the area of Retail Financial Services.
Future Capital Holdings Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 11, 2008, inter alia, has considered and approved the following:
1. Investment in Centrum Direct Ltd:
The Board of Directors have approved an investment in Centrum Direct Ltd, a Company engaged in foreign exchange money changing business and presently, a wholly owned subsidiary of Centrum Capital Ltd. The proposed Investment will be of an amount of approximately Rupees Seventy Five Crore and would amount to a 50.1% stake of the paid up equity share capital of Centrum Direct Ltd, post the investment by the Company.
2. Investment in Centrum Wealth Managers Ltd:
The Board of Directors have also approved an investment in Centrum Wealth Managers Ltd, a Company that will undertake activities of retail broking (including portfolio management services) and distribution of financial and insurance products and services. The proposed investment will be of an amount of approximately Rupees Twenty Five crore and would amount to a 50.1% stake of the paid up equity share capital of Centrum Wealth Managers Ltd, post the investment by the Company.