June 04, 2015

Press Release No. 1

News about Unitech Limited

The media had reports that "Unitech, JP Associates shares plunge on loan default talk."

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Unitech Limited has vide its letter inter-alia stated, "Rumours are being spread by certain segments of the market to profit from trading pertaining to Unitech defaulting on repayments to certain lenders, which are false and misleading. On the contrary Unitech has brought down its debt and other liabilities including telecom related liabilities significantly during the last financial year. In fact all the company's telecom related debt has been repaid. Unitech has been focusing on scaling up its construction activities and expects to increase deliveries considerably during the current year. Contracted sales of Unitech from its existing projects will yield positive cash flows for the company as the construction progresses, enabling the company to service its loans and gradually bring down the overall debt."

Press Release No. 2

News about Jaiprakash Associates Limited

The media had reports that "Unitech, JP Associates shares plunge on loan default talk."

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

A copy of the clarification is available on the NSE website (http://www.nseindia.com) under (Corporates > Corporate Information > Announcements).