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JAIPRAKASH ASSOCIATES LTD. - Jaiprakash Associates Ltd reply to clarification sought by the exchange
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28 Aug 2015
The Exchange had sought clarification from Jaiprakash Associates Ltd with respect to news appearing in DNA on August 27, 2015 titled &quot;Ultratech close to buying Jaypee&apos;s central India unit.&quot;&lt;BR&gt;&lt;BR&gt;Jaiprakash Associates Ltd replied stating &quot;Please note that we have not issued any press release on the subject. The news item referred to by you is based on market speculations and the Company does not comment on market speculations as also mentioned in the news article under reference.&lt;BR&gt;&lt;BR&gt;We may add here that Bhilai Cement Plant belongs is owned by Bhilai Jaypee Cement Limited which is a joint venture between Jaiprakash Associates Limited and SAIL having 74% and 26% stake respectively.&lt;BR&gt;&lt;BR&gt;While on the subject we may add here that, as already announced on various occasions, with a view to enhance the stakeholders&apos; value, the Company has its firm resolve to reduce its overall debt including through disposal of some of its assets / investments.&lt;BR&gt;&lt;BR&gt;It may also be noted that the Company is committed to give disclosure promptly after any material event fructifies.&lt;BR&gt;&lt;BR&gt;We would promptly inform you of any event/information that may be having a bearing on the operation/ performance of the Company.&quot;
View all announcements for JAIPRAKASH ASSOCIATES LTD. Source: BSE India