New company for Golden Key

18 October 2010 12:30 pm

The assets of Golden Key Credit Card Company is to be transferred to a new company to be formed under the Companies Act and the depositors of Golden Key will be appointed as the shareholders of the new company, according to a decision arrived at a meeting between the President and theGolden Key Depositors Association at Temple Trees today.  

Accordingly the assets of Golden Key will be transferred to the ‘GKCG Special Purpose Vehicle Private Limited (GKCGSPV)’ and the depositors of Golden Key would be made shareholders of the new company in proportion to the percentage of their deposits in Golden Key Credit Card Company.