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| Exchange Received Time 31/01/2018 19:22:34 Exchange Disseminated Time 31/01/2018 19:22:43 Time Taken 00:00:09 | | This is with reference to your mail and the recent news item which appeared in Economic Times titled 'Daiichi wins Rs 3,500 crore arbitration case against Singh brothers in Delhi High Court'. In this regard, we would like to submit that the Company had vide its letter dated May 29, 2017 informed about the sequence of the events relating to aforesaid matter. We confirm from media sources and publicly available documents at website of High Court that a verdict with regard to enforcement of arbitration award has been pronounced today. We confirm that the Company was not a party to the arbitration and/ or is not a party to ongoing proceedings and as such is not involved or impacted by its outcome. We confirm that the proceedings don't have any ad-interim or interim order passed against or in favor of the Company. Also, any outcome of the proceeding are reasonably expected to have no direct impact on the Company or its operations.We assure you that we will keep the stock exchanges updated. |
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