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| Exchange Received Time 16/02/2018 20:06:47 Exchange Disseminated Time 16/02/2018 20:06:53 Time Taken 00:00:06 | We are pleased to inform you that PVR Limited and Elan Group have amicably resolved all differences and disputes which had arisen between the parties on account of misunderstandings in relation to MoUs pertaining to development of multiplexes in Gurugram.
Both the parties had initiated multiple legal proceedings against each other under both civil and criminal laws. The parties have now mutually agreed and already initiated steps to withdraw all pending legal proceedings against their respective organizations as well as against their directors/officials.
Both the parties value their partnership and have reached a revised understanding with respect to leasing the multiplexes in commercial projects being developed by Elan group in Sector 80(Elan Mercado), Sector 67(Elan Town Centre) and Sector 84 (Elan Miracle).
All disputes stand settled and no dispute survives between the parties.
This is for your information and to all concerned.
Thanking You.
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