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NCC Limited - Clarifies on News Item
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17 Jun 2015
With reference to the news flashed on CNBC TV18 &amp; www.moneycontrol.com, dated June 17, 2015 captioned &quot;: The Company will monetise power, road projects to pare debt.&quot;, NCC Ltd has Clarified to BSE as under:&lt;BR&gt;&lt;BR&gt;&quot;The information pertaining to stake sale in NCC Power Projects Ltd., held through our Subsidiary NCC Infrastructure Holdings Ltd., was intimated to NSE &amp; BSE vide our letter dated.3rd February, 2014. As per the Definitive Agreements entered into with Sembcorb Industries Ltd., the proceeds of the stake sale are expected to be received during the current Financial Year.&lt;BR&gt;&lt;BR&gt;We also wish to inform that the Company has been making efforts to divest the stake held in the Road Projects SPVs, viz., Western UP Tollway Ltd., and Bangalore Elevated Tollway Ltd., (held through our Subsidiary NCC Infrastructure Holdings Ltd.,) during the last couple of years and this information has also been in public domain during the last one year in particular.&lt;BR&gt;&lt;BR&gt;The proceeds of the stake sale will be utilised for bringing down the debt level.&quot;
View all announcements for NCC Limited Source: BSE India