MAX INDIA LTD. - Max India Ltd reply to clarification sought by the exchange

The Exchange had sought clarification from Max India Ltd with respect to news article appearing in The Economic Times on January 14, 2015 titled "Max India may be heading for 3-way Split"<BR><BR>Max India Ltd replied stating "we would like to clarify as under:<BR><BR>(i) Management of the Company is in the process of finalizing few options for corporate restructuring, which will be presented to Investment & Finance Committee (I&FC) for its consideration; <BR><BR>(ii) We are in the process of ascertaining the availability of directors to convene a meeting of the I&FC; <BR><BR>(iii) Given the sensitivity around the proposal, we are contemplating to convene the meeting of I&FC and Board of Directors of the Company on the same day, where management will propose the options to I&FC and it will recommend the preferred option to Board of Directors for their approval; and<BR><BR>(iv) As soon as the date of the meeting is finalized, we will notify the stock exchanges."