The Exchange had sought clarification from DLF Ltd with respect to news appearing in Business Standard on February 22, 2015 titled "DLF to sell 50% stakes in 5 projects" and "Showcause to DLF over IT park" on February 23, 2015 respectively.
The Exchange had sought clarification from DLF Ltd with respect to news appearing in Business Standard on February 22, 2015 titled "DLF to sell 50% stakes in 5 projects" and "Showcause to DLF over IT park" on February 23, 2015 respectively.
DLF Ltd replied stating, "In regard to item (i) "DLF to sell 50% stakes in 4 projects", we would like to clarify that there is no event, information or development which requires disclosure under Clause 36 of Listing Agreement. The Company, during its normal course of business, keeps exploring various opportunities to enhance shareholder value, which includes M&A, divestment of assets and fund raising opportunities. This was also disclosed in the Quarterly Analysts presentation duly uploaded in the Company’s website. We would keep exchanges informed in case of any specific developments in this regard.
In regard to item (ii) "Show cause to DLF over IT park" in Odisha, we would like to submit that the Company is in the process of seeking legal advice. The Company would submit any further material development to the stock exchanges in this regard."
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