ITEM 8.01-OTHER EVENTS
Registrant signed terms for acquiring two residential towers, FAIA & ZEFA - Phoenix Kessaku, Bengaluru Karnataka India with 58 ultra luxuriously built residential apartment units admeasuring 425,413 square feet as a marquee piece Indian Residential REIT offering.
Projects FAIA and ZEFA forming part of this Transaction (hereinafter defined)
are registered under
TRANSACTION
29 apartments in FAIA building having saleable area of 2,34,356 sq. ft. ("
This means that the said
PAYMENT TERMS
30 days for Due Diligence & Technical Evaluation
25% within 7 days of completion of Due Diligence
Balance within 7 days of completion of 120 days from the date of execution of Terms.
.
THE REGISTRANT MAY OR MAY NOT BE ABLE TO SECURE CAPITAL FULLY OR PATIALLY AS INTENDED TO SUCCESSFULLY CLOSE THE TRANSACTION. REGISTRANT MAY ALSO NOT BE ABLE TO SECURE SEBI CLEARANCE ON REIT. REGISTRANT MAY ALSO NOT OBSERVE INCOME OR CAPITAL GAINS FROM ITS INVESTMENT AS EXPECTED AND EARNINGS PAY BACK MAY TAKE LONGER THAN EXPECTED TIME. REGISTRANT MAY JUST INCUR LOSSES AND MAY NOT BE ABLE TO RECOVER PRINCIPAL INVESTMENTS. FURTHER, EVEN IF ACQUISIITION OF THE TWO TOWERS IS COMPLETED THE REIT MAY NOT BE ABLE TO REALIZE MONEIES FULLY OR PARTIALY FORCING THE REIT TO BECOME LIQUID TRAPPED AND FINANCIALLY ENSTRANGED SUBJECTING REGISTRANT AND ITS INVESTORS TO LOSE SEVERELY TO THE EXTENT THAT THEIR INVESTED CAPITAL MAY EVEN BE WIPED AWAY COMPLETELY.
NOTE ON FORWARD LOOKING STATEMENTS
This Report on Form 8-K may include both historical and forward-looking statements, which include information relating to future events, future financial performance, strategies, expectations, competitive environment and regulations. Words such as "may," "shall", "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "intending", "contemplating", "plans," "believes," "estimates," "hopefully" and similar expressions, as well as statements in future tense, present and past continuing, identify forward-looking statements. Such statements are intended to operate as "forward-looking statements" of the kind permitted by the Private Securities Litigation Reform Act of 1995, incorporated in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). That legislation protects such predictive statements by creating a "safe harbor" from liability in the event that a particular prediction does not turn out as anticipated. Forward-looking statements should not be read as a guarantee of future performance or results and will probably not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information we have when those statements are made, or on our management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.
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The inclusion of the forward-looking statements should not be regarded as a representation by us, or any other person, that such forward-looking statements will be achieved. You should be aware that any forward- looking statement made by us in this Report on Form 8-K, or elsewhere, speaks only as of the date on which we make it. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on the forward-looking statements contained in this Report on Form 8-K.
ITEM 9.01-FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits. Exhibit Number Description 10.1 Terms Sheet -Purchase of FAIA &ZEFA Residential Towers developed by Phoenix Group Mumbai [Palladium Constructions (P) Limited ]
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