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| Exchange Received Time 28/07/2018 19:33:25 Exchange Disseminated Time 28/07/2018 19:33:33 Time Taken 00:00:08 | Sub : Reporting under Regulation 30 of SEBI ( Listing Obligation & Disclosure Requirements ) Regulation, 2015
Ref: Letter dated 27 July 2018 on the above subject.
We write in continuation to our earlier letter dated 27th July 2018 on the above subject matter. There was a typographical error in the gross compensation amount which has now been rectified. We request you to consider this letter for compliance purpose by replacing our earlier letter in this regard.
IFB Industries Limited (IFBIL) and Bangalore Metro Rail Corporation Limited (BMRCL) have filed a Joint Memo/Petition before the Hon'ble High Court of Karnataka at Bangalore towards settlement of disputes in respect of compulsory part acquisition of the factory land of IFBIL situated at 16/17, Visveswariah Industrial Estate, Whitefield Road, Bangalore -560 048.
It was, inter alia, prayed in the said Joint Memo/Petition to quash the preliminary notification dated 27.04.2015 passed under Section 28(1) of the KIADB Act, 1966, notification dated 29.12.2015 passed under Section 28(4) of the Act as well as the final notification dated 04.02.2016 under 28(6) with respect to the excluded portion of 131.357 sq. mtrs and to confirm the acquisition with respect to the remaining portion of 1578.63 sq. mtrs. of the said factory land and also to confirm the gross compensation of Rs. 19,55,84,401/- ( Rupees nineteen crores fifty five lacs eighty four thousand four hundred one) only subject to TDS payable for the said portion of the factory land proposed to be acquired by BMRCL.
Accordingly, the Hon'ble High Court of Karnataka at Bangalore considered the Joint Memo/Petition.
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