PIRAMAL ENTERPRISES LTD. - Clarifies on News Item
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| 23 Sep 2014 | |
| With reference to the news item appearing in the media titled "Piramal Enterprises Eyes HCC's Two Road Projects", Piramal Enterprises Ltd has Clarified to BSE as under:<br/><br/>"the Company from time to time explores various investment opportunities as part of its structured investment business, in the normal course of its business. This evaluation of opportunities includes various criteria, including technical, financial, taxation, commercial, regulatory and legal. Once these criteria are met, it is followed by internal approvals at various levels, post which, comes a comprehensive financial and legal diligence. Projects that come out of this filtration process are then placed before the Board or its duly empowered Committee for approval. It is an established practice that only those proposals that are definitive and which are disclosable events, are disclosed to the Stock Exchanges. Any disclosure prior to this would only be speculative.<br/><br/>In view of your specific request, we write to inform that the investment opportunities forming part of the Companys structured investment business, includes investments in road projects, such as the project referred to in the captioned news item. Since discussions are at preliminary stages and the evaluation is ongoing, it is difficult for us to comment on the same at this stage." | |
| View all announcements for PIRAMAL ENTERPRISES LTD. | Source: BSE India |
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