General Announcement::Disclosure under Reg 30 of SEBI (LODR) Regulations, 2015

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 13-May-2019 20:37:24
Status: New
Announcement Sub Title: Disclosure under Reg 30 of SEBI (LODR) Regulations, 2015
Announcement Reference: SG190513OTHRJ7GT
Submitted By (Co./ Ind. Name): Sangeetha Pednekar
Designation: COmpany Secretary
Effective Date and Time of the event: 13/05/2019 17:00:00
Description (Please provide a detailed description of the event in the box below): Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, this is to inform you that a minority shareholder of one of our step-down subsidiary, PT Karya Putra Borneo, based at Indonesia has raised a frivolous claim with respect to the shareholding of the said subsidiary Company.

The Company has already initiated the necessary legal steps for the aforesaid dispute and expects to resolve this matter at the earliest possible. Meanwhile the control of the operations are continuing normally under our management.

The Company has always kept its stakeholders and the stock exchanges informed of any material events in line with the for determination of Materiality of any Event / Information formulated and notified by the Company in accordance with Regulation 30 (4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and shall keep the exchanges notified on the further developments in the matter.

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