Clarifies on News item

With reference to the news item appearing in the Times of India on March 24, 2015 titled "Adani, JSW vie for Monnet Power", Monnet Ispat & Energy Ltd has Clarified to BSE as under:

"We like to inform you that Company is at preliminary stage of discussion with few buyers to explore sale of its part stake in Monnet Power Company Limited.

However, the discussions are at initial stage and the deal if fractified is subject to the due diligence and agreement on the commercial and other terms and conditions. Hence, there is no material develop to warrant any disclosure at this stage.

Whenever any such development happens, the Company will inform the Stock Exchange In compliance of the listing agreement."

Source : BSE - >www.bseindia.com

Published on March 24, 2015
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