|
| Exchange Disseminated Time | The Exchange has sought clarification from BASF India Ltd with respect to news article appearing in The Times of India on December 10, 2014 titled "BASF to invest Rs 380 Crs in new R&D Center"
BASF India Ltd replied stating, "We would like to clarify that the proposed investment of Rs.380 crores will be made by the wholly owned Indian subsidiary of BASF SE, Germany; namely, BASF Chemicals India Private Limited (which is not listed in India) and not by the listed Company, BASF India Limited.
As the investment is not done by BASF India Limited, the same was not intimated to the Stock Exchanges under Clause 36 of the Listing Agreement." |
|
|