General Announcement::Intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 23-Jan-2019 23:49:00
Status: New
Announcement Sub Title: Intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Announcement Reference: SG190123OTHRPU5D
Submitted By (Co./ Ind. Name): Prakash Shenoy
Designation: Company Secretaryand Compliance Officer
Effective Date and Time of the event: 23/01/2019 21:05:00
Description (Please provide a detailed description of the event in the box below): We further wish to draw your kind attention to our letters dated 26th December, 2017 and 28th December, 2017 informing you of the Assets Monetisation Programme and the signing of binding agreements for sale of Wireless Spectrum, Tower, Fiber and Media Convergence Node (MCN) assets. Presently, the Company is working expeditiously to complete the process and expects to close the same by end of financial year March, 2019, subject to receipt of applicabre approvals as may be required for the purpose. The assets sale proceeds shall be utilized to repay company's debt including NCD's in such manner as may be decided by the Joint Lenders Forurn.

In view of above, the Company is not making payment of 4th installment of Rs.375 crore of principal on NCD's which is going to be due on 7th February 2019 and interest payable on NCD's till completion of restructuring process.

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