DISHMAN PHARMACEUTICALS & CHEMICALS LTD. - Dishman Pharmaceuticals and Chemicals Ltd reply to clarification sought by the exchange
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| 04 Dec 2014 | |
| The Exchange had sought clarification from Dishman Pharmaceuticals and Chemicals Ltd with respect to news appearing on ET NOW on December 02, 2014 titled "Dishman in talks with some investors to sell Gujarat Land."<BR><BR>Dishman Pharmaceuticals and Chemicals Ltd replied stating "We would like to clarify that Dishman Pharmaceuticals and Chemicals Limited (DPCL) had acquired on a long term lease basis Land located at the Pharma and Finechem SEZ being developed by Dishman Infrastructure Limited (DIL), a company promoted by the promoters of DPCL. However, owing to withdrawal of the benefits granted earlier to SEZ developers/units located therein by the Government, the said company DIL has suspended the work on the SEZ development since last around two years and is looking at various options including de-bonding the SEZ and selling off the entire SEZ land. If this happens, DPCLs lease will also be cancelled and DPCL will get back the money invested in the Land leased to it in the said SEZ.<BR><BR>In the Interview given by Mr. Arpit Vyas, Managing Director, the same factual position is re-iterated. We would like to clarify that this fact was also reported in the Directors Report forming part of the published Annual Report of DPCL for FY 2012-13, (on page 6 of the Directors Report) and the investors at large are very much aware about the same. However, as it is evident, the transaction contemplated has not materialized till date.<BR><BR>Kindly note that, in this circumstance, we submit that, in our view, this does not require any disclosure at this stage under Clause 36 of the Listing Agreement." | |
| View all announcements for DISHMAN PHARMACEUTICALS & CHEMICALS LTD. | Source: BSE India |
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