Board approves scheme of arrangement with wholly owned subsidiary Satguru Corporate Services; appoints EY as internal auditor

Board of Sunteck Realty Ltd, at its meeting on Thursday, 1st October, 2026, approved a Scheme of Arrangement with Satguru Corporate Services Private Limited (wholly owned subsidiary) and, on the Audit Committee's recommendation.

Thu 1 Oct 2026

Board Meeting Date

Thursday, 1st October, 2026

Scheme of Arrangement

Approved with Satguru Corporate Services Private Limited, a wholly owned subsidiary

Legal Basis for Scheme

Sections 230-232 of the Companies Act, 2013

Internal Auditor Appointed

M/s. Ernst & Young LLP, Chartered Accountants

Internal Auditor Tenure

up to 31st March, 2027

Outcome of board meeting

Sunteck Realty Ltd has informed the stock exchanges that its Board of Directors, at a meeting held on Thursday, 1st October, 2026, approved two items. The meeting commenced at 6.45 p.m. and concluded at 7.05 p.m.

Scheme of Arrangement

• The Board approved a Scheme of Arrangement between Sunteck Realty Limited, described in the update as the "Resulting Company", and Satguru Corporate Services Private Limited, described as the "Demerged Company", along with their respective shareholders.
• Satguru Corporate Services Private Limited is a wholly owned subsidiary of Sunteck.
• The scheme is proposed under Sections 230-232 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013.
• In plain terms: a scheme of arrangement is a formal plan for reorganising a company or group, such as a merger, demerger or restructuring, and these are the provisions used for such schemes. Because the demerged company is a wholly owned subsidiary, Sunteck's shareholders already hold an indirect interest in it.

Internal Auditor appointed

• Based on the recommendations of the Audit Committee, the Board approved the appointment of M/s. Ernst & Young LLP, Chartered Accountants ("EY") as Internal Auditor of the Company up to 31st March, 2027.
• An internal auditor examines a company's internal processes, risk controls and compliance, and works separately from the statutory auditor who audits the financial statements.
• The update includes a brief profile of EY, describing it as a global leader in assurance, tax, transaction and advisory services, with internal audit work covering risk assessment, process improvement, technology integration, regulatory compliance and stakeholder engagement.

How this can be seen

• The scheme item is a group restructuring step placed before shareholders for approval by the Board.
• The internal auditor appointment is an oversight and governance measure that covers the period up to 31st March, 2027.
• Both are decisions taken by the Board and communicated to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.