News Clarification

Dear Sir/Madam,

With reference to news item published on 15th & 20th March, 2018 in the Time of India newspaper, we have to clarify as under:-

We are writing in reference to the email dated March 20, 2018 received from your office. In reply, we state that MHADA has terminated Joint development agreement executed with subsidiary company Guruashish Construction Pvt Ltd. The legality of such termination has been challenged in appropriate court. Further, no adverse order has been passed against HDIL by any court except with direction to disclose assets and financial details of HDIL and its directors by Bombay High Court in Suit filed by developers in Bombay High Court. No Criminal complaint has been filed against HDIL.

We are committed to provide and update your office with further developments if any, takes place in future.

This is for your information & record.

Pdf Link: News Clarification

Source : BSE - www.bseindia.com

Published on March 21, 2018

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