Diversified entity ITC on Thursday said it has received shareholders' approval to demerge ITC Hotels into a separate entity. Shareholders of ITC, in a virtual meeting held on Thursday through video conferencing/other audio-visual means, approved the resolution for the scheme of arrangement between ITC Ltd and ITC Hotels Ltd, the Kolkata-headquartered firm said in a regulatory filing. The proposal "has been approved and passed by the requisite majority of the Members, pursuant to Section 230(6) of the Companies Act, 2013", it added.
Taj Dubai will be the first international property to house 'Chambers' and offer facilities and privileges.
India's Sheth Group is developing four projects, including a half-moon shaped tower, at an estimated of Rs 2,400 crores (Dh 2 billion) in Dubai.
Ranked 737 in the Forbes global billionaire list with personal wealth of $2.4 billion, Yusuffali's diversification does not stop here.
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