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| Exchange Disseminated Time | The Exchange had sought clarification from Housing Development and Infrastructure Ltd with respect to the news appeared in the media that, "HDIL to sell Commercial Complex in Mumbai Suburb to cut Debt".
Housing Development and Infrastructure Ltd has replied as under:
"We refer to the said article as mentioned in the trailing mail, whereby, Mr. Hari Prakash Pandey, Vice President - Finance & Investor Relations, clearly declined to comment on the alleged sale of commercial property at Kurla.
No transaction or agreements have been entered into which needs to be disclosed to Stock Exchanges pursuant to Clause 36 of the Listing Agreement. Sufficient disclosures and information have been provided to the Stock Exchanges on regular basis and in timely manner.
Further, the Company is carrying business of real estate and hence buying and selling of land are integral part of the its activities. Hence, we have not released any direct release or the said article, hence, question of non submission of information under Clause 35 of the Listing Agreement does not arise." |
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