Cimmco Birla

NSE Announcements on Cimmco Birla

Posted by : MMB Messenger
Price when posted : [Cimmco Birla - BSE:Rs. NSE:Rs. 34.05 when posted]

View full thread (1 messages)

Tracked by: 0 Boarder

Cimmco Birla Ltd has informed the Exchange vide its letter dated July 31, 2008 that "We have come across the unaudited financial results for the quarter ended June 30, 2008 published by Titagarh Wagons Ltd (TWL) and refer to Note No 6 therein, about Cimmco Birla Limited (CBL) as reproduced hereunder: (Quote) -- 6. Approval in respect of the Rehabilitation scheme filed with the Board for Industrial and Financial Reconstruction (BIFR) for revival of Cimmco Birla Limited (CBL) in strategic partnership with J P Morgan Mauritius Holding Limited is awaited. In the meantime the Company has entered into a tripartite settlement with the workmen of Cimmco Birla Limited and an advance of Rs. 220.65 lacs has been made to the workmen which is reflected as "Advance against equity to Cimmco Birla Limited. (Unquote). We wish to clarify and place on record certain facts, as follows, with regard to the said Note: (1). It has been stated that the Company (TWL) has entered into a tripartite settlement with the workmen of CBL. We clarify that CBL is not a party to any such settlement/agreement. We have already informed you our position in this regard vide our letters dated March 7, 2008 and March 27, 2008. (2). Further, the said Note also states that the advance paid to the workmen (of CBL) is reflected as "Advance against equity to Cimmco Birla Limited". We clarify that CBL has neither made any offer or issuance of equity shares to any person nor it has received any advance against any equity shares....