TECPRO SYSTEMS LTD. - Clarifies on News Item

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29 Oct 2014
With reference to the news published under heading "DBS Bank, BoI look to sell Rs. 994 crore exposure in "Tecpro" published in Financial Express dated October 28, 2014, Tecpro Systems Ltd has clarified to BSE that "this news is incorrect and we strongly deny the correctness of the news.<br/> <br/>The Corporate Debt Restructuring (CDR) package of Tecpro Systems Limited was approved by the CDR Cell in their meeting held on September 25, 2014 and the Bank of India (BoI) has given its mandate for the same so there is no question of selling its stake to any Assets Restructuring Company (ARC). Further, we have no such news from DBS Bank with respect to its decision of offering its stake to any ARC and moreover DBS Bank is not part of the CDR Banks so it will not impact the restructuring process of the Company.<br/><br/>Therefore it is suggested that no attention should be given to any such news without getting proper clarification from the Company."
View all announcements for TECPRO SYSTEMS LTD.	Source: BSE India

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