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| Exchange Disseminated Time | With reference to a news item appearing in a leading financial daily in the ear to the ground section titled 'Gains on stake sale buzz', Maharashtra Scooters Ltd has clarified as under:
Western Maharashtra Development Corporation Ltd (WMDC) had offered to sell its 27% stake in the company to Bajaj Auto Ltd (BAL). BAL has agreed to purchase the same. The price however is not yet determined. The promoters have entered an arbitration to settle the price and the matter is currently pending in arbitration. |
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