rediff.com
REAL-TIME QUOTE
Enter Company or MF
e.g. Tata motors, Reliance MF, 500570
JAIN IRRIGATION SYSTEMS LTD. - Clarifies on News Item
Download announcement < Back
01 Apr 2014
With reference to the news item appearing in a leading financial daily on March 31, 2014 titled &quot;Jain Irrigation Systems May Sell Stake in Food Processing Unit&quot;, Jain Irrigation Systems Ltd has Clarified to BSE as follows:&lt;br/&gt;&lt;br/&gt;&quot;The Company has been generally exploring options to pare the debt for some time now and one of the options being explored is induction of equity investment in the Companys Food Processing business. However, as of date, all discussions are preliminary and non-binding. There have been no binding agreements signed or management decision taken for sale of stake in our Companys Food Processing Unit. Hence the news article is pre-mature and at this stage incorrect and inaccurate.&lt;br/&gt;&lt;br/&gt;It can be appreciated that while making such disclosures of material and price-sensitive information, our Company has to carefully weigh various factors including stage at which any such matter may be and its contingencies and that any premature disclosure could be misleading to the public. At this stage there have been no developments relating to any possible future sale of stake in our Companys Food Processing Unit that may warrant a public announcement.&quot;
View all announcements for JAIN IRRIGATION SYSTEMS LTD. Source: BSE India