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ASHOK LEYLAND LTD. - Ashok Leyland Ltd reply to clarification sought by the exchange
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11 Nov 2014
The Exchange has sought clarification from Ashok Leyland Ltd with respect to news article appearing in Free Press Journal on November 8, 2014 titled &quot;Leyland puts German arm Albonair for sale to cut debt&quot;&lt;br/&gt; &lt;br/&gt;Ashok Leyland Ltd has replied stating &quot;We would like to invite your kind attention to the fact that in the Annual Report 2013-14, a clear mention about &quot;Assets held for sale&quot; have been indicated at appropriate places where in the Company has mentioned about its intention to sell the stakes in three companies viz., Albonair GmbH, Albonair India Pvt Ltd and Avia Ashok Leyland Motors Limited.&lt;br/&gt; &lt;br/&gt;Based on the above disclosures in the Annual Report, a query was raised by the Press while we were discussing the Second Quarter / Half year ended Sep 30, 2014 unaudited results, for which the Company management replied that the process of identifying an investor is currently on.&lt;br/&gt; &lt;br/&gt;Since the process is currently underway and the final suitor is yet to be identified, the Company has not informed the Stock Exchanges as it has currently nothing to report. If and when the process is completed and definitive agreements entered into with any buyer/ investor, we will intimate the Stock Exchanges under Cl 36 of the listing agreement, before we inform the press or any third party.&quot;
View all announcements for ASHOK LEYLAND LTD. Source: BSE India