NTPC LTD. - NTPC Ltd reply to clarification sought by the exchange

The Exchange had sought clarification from NTPC Ltd with respect to news article appearing in Financial Chronicle on December 30, 2014 titled "NTPC scraps Rs. 2000 cr Barh deal with Russia's TPE"<BR><BR>NTPC Ltd replied stating "This is to inform you that in the commercial interest of the Company, Board of Directors in its meeting held on 23.12.2014 had decided to terminate the contract of M/s TECHNOPROMEXPORT (TPE), Russia for Main Plant Package, Part -A (Steam Generator and Auxiliaries) for Barh, Stage-I. Accordingly, a "Notice of Default" has been served on TPE on 24.12.2014. The decision has been taken to facilitate completion of work ."