BHARATI SHIPYARD LTD. - Clarification from Bharati Shipyard Ltd
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| 22 Sep 2014 | |
| The Exchange had sought clarification from Bharati Shipyard Ltd with respect to the media report titled "Bharati Shipyard sells wind power business for Rs.55 crore" appearing in Mint on September 22, 2014.<br/><br/>Bharati Shipyard Ltd replied as under:<br/><br/>"As you are aware, the Company is under CDR mechanism from 2012. As per the CDR norms, State Bank of India, the lead bank, at the instruction of CDR Banks, has decided to sell the Non-core Asset of Bharati Shipyard Limited, which has been charged to lenders and was in their possession, in order to reduce the liability of the Company. To comply with the CDR requirements, State Bank of India and other lender banks have formed an Asset Sale Committee and bids were invited and the successful bidder being M/s. Ghatge Patil Industries Limited has purchased the Wind Mill. Accordingly, the banks have sold the Wind Mill and the money has come to TRA account in State Bank of India." | |
| View all announcements for BHARATI SHIPYARD LTD. | Source: BSE India |
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