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With reference to the news report "KNNL gives more time for completion of debt issue'' that appeared in these columns on November 23, Mr P.N. Sreenivasachary, MD, Karnataka Neeravari Nigam Ltd, writes:

"The arrangers were informed by a fax message on 22-11-2004 at 5.30 pm that the issue has been closed as indicated in the information memorandum and that their request for extension of bond issue has not been considered."

The news report was based on our Correspondent's conversation with KNNL's Managing Director earlier in the day on November 22.

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