December 12, 2006
The media had reports that Ansal Properties & Infrastructure Limited has struck a deal with the Uttar Pradesh Government to develop a 2,500 acre township near Delhi.
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 officials of the company.
Ansal Properties & Infrastructure Limited has vide its letter inter-alia stated, "Ansal Properties & Infrastructure Ltd. (APIL) along with Uttam Galva Steels Ltd. and other members of a consortium had applied in 2004 for development of a Hi-Tech Township in Dadri (near Delhi) under Hi-Tech Township Policy 2003 of the U. P. Govt. AWAS BANDHU (U. P. Govt.) vide its letter No. 1262/A.B.-4/Niyojan-hi-tech-township/2006-07 dated 29th November 2006 has informed that High Power Committee have found the consortium suitable and selected the consortium for development of the Hi-Tech Township of app. 2500 acres in Dadri (NCR area), Distt. Gautam Budh Nagar. This is to be followed by signing a MOU with Competent Authority namely Ghaziabad Development Authority in the prescribed form. The consortium has already submitted the MOU to Ghaziabad Development Authority for signing thereof. After signing of MOU, Company needs to take further steps in this regard like submission and approval of Detailed Project Report, submission and approval of detailed layout, compliance of other obligations as provided in the MOU and execution of Development Agreement. Upon signing of MOU with Ghaziabad Development Authority, the Company will forthwith inform the details about the project as well as the consortium to the Stock Exchange."
Source: National Stock Exchange of India Limited
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