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Country Club asset stripping cleared

Our Bureau

Hyderabad, July 11

COUNTRY Club India Ltd, under pressure from the bankers to repay the dues, has obtained the approval of its shareholders to strip its assets and substantially retire the debt burden.

The company has informed the stock exchanges that the resolution relating to sale, lease or otherwise disposal of whole or substantially the whole of its undertaking, Hotel Amrutha Castle in Hyderabad, has been approved by the shareholders.

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