PIRAMAL ENTERPRISES LTD. - Clarifies on News item

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PIRAMAL ENTERPRISES LTD. - Clarifies on News item

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02 Jan 2015
With reference to the news item appearing in the news channel titled "Piramal Enterprises have acquired 2 BOT Infra Projects from Supreme Infra worth Rs. 700 crores., 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 disc losable 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 infra projects such as the project referred to in the captioned news item.<BR><BR>Since nothing is of definite nature and nothing has been approved by the Board / duly empowered Committee 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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