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| Exchange Received Time 30/05/2018 16:42:44 Exchange Disseminated Time 30/05/2018 16:42:50 Time Taken 00:00:06 | Pursuant to Regulation 30 of the SEBI (LODR) 2015, we would like to inform the following:
1. Kindly refer our earlier letter dtd 16.05.2016 in respect of imposition of penalty of Rs. 29 Crores on the Company by Director General of Central Excise Intelligence (Adjudication) New Delhi. In the regard, we are pleased to inform you that Custom, Excise and Services Tax, Appellate Tribunal, New Delhi vide its order dated. 17.5.2018 set aside the aforesaid order and disposed the petition.
2. The Company has received notice dtd 17.05.2018 under section 13(4) of the SARFAESI Act, 2002 from India bulls Housing Finance Ltd., the secured creditor of the Company's land situated at Hyderabad. However the Company is in the process of settlement of the matter and the management is hopeful for the same.
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