Prestige Estates Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 24, 2016, have accorded their in-principle approval for the merger of its wholly owned subsidiaries, Downhill Holiday Resorts Private Limited, Foothills Resorts Private Limited, Pennar Hotels and Resorts Private Limited and Valdel Xtent Outsourcing Solutions Private Limited with the Company. The Company is also under discussions and is in the process of finalizing the Merchant Bankers and Transaction Advisors for the proposed merger. The Board has also at the above said Board meeting approved/ taken note of the following changes in Key Managerial Personnel of the Company Prestige Estates Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2016, inter alia, has considered & approved the Scheme of Amalgamation of Downhills Holiday Resorts Private Limited, Foothills Resorts Private Limited, Pennar Hotels and Resorts Private Limited and Valdel Xtent Outsourcing Solutions Private Limited with Prestige Estates Projects Limited ('PEPL') and their respective shareholders ('Scheme'). The Scheme would be subject to the approval of the Hon'ble High Court of Karnataka and any other statutory or regulatory authorities as applicable. (As per BSE Announcement dated on 31.03.2016) Order for Scheme of Amalgamation of Downhill Holiday Resorts Pvt. Ltd., Foothills Resorts Pvt. Ltd., Pennar Hotels and Resorts Pvt. Ltd. and Valdel Xtent Outsourcing Solutions Pvt. Ltd. with Prestige Estates Projects Ltd. (As Per BSE Announcement Dated on 04.07.2017)