Futuristic Solutions Limited
Leaders in Asset Reconstruction and Real Estate Development

Corporate Announcement

Sub: Corporate Announcement


A Claim in which Futuristic Solutions Limited had sold off its rights during the Financial Year 2010-11 having retained the bank guarantee /FDR’S having the present value of Rs. 25,00,000 & Rs. 38,00,000 respectively which were pledged to the Hon’ble executing court.

The Bank Guarantee/FDR of Rs.25 Lacs was released in the quarter ending 30.06.2012. The Judgment debtor had appealed in the Hon’ble High Court Punjab & Haryana and the said appeal has been dismissed by Hon’ble High Court with conditional modifications, however having no effect on the pledged FDR of approximately Rs. 38 Lacs. Consequently the said pledged FDR is Likely to be released in the current quarter i.e. 30.09.2012.