BHARATI SHIPYARD LTD. - Bharati Shipyard Ltd reply to clarification sought by the exchange
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| 24 Dec 2014 | |
| The Exchange has sought clarification from Bharati Shipyard Ltd with respect to news article appearing in The Economic Times on December 24, 2014 titled "Edelweiss ARC looks to Raise Rs.634 cr for Rescue of Ailing Bharati Shipyard"<BR><BR>Bharati Shipyard Ltd replied stating "We would like to submit that we have already mentioned in our 37th Annual Report, circulated for the year 2013-14, under Managing Directors' message (please refer to para 2 and 3 on page no.1) that Edelweiss ARC has taken the debt of 11banks and they are looking to buy the rest of the debts from the remaining banks and that in order to mobilize funds, Bharati has been making efforts with the aid of its Lenders led by Edelweiss.<BR><BR>Accordingly, Edelweiss ARC is making efforts to raise Rs.634 Crores in the form of "debt or a combination of debt-cum-equity". ARC is trying to raise the above amount so that the Company can be turned around." | |
| View all announcements for BHARATI SHIPYARD LTD. | Source: BSE India |
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