May 2, 2006
The media had reports that Mahindra & Mahindra Ltd is doing due diligence for LML's bike plant to acquire a major stake or a buyout.
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.
LML Ltd. has vide its letter inter-alia stated, "We wish to advise you that as is well known the Company has been working for restructuring of its business which inter alia includes the possibility of a strategic partnership. We would like to inform you that no due diligence exercise of our plant is being carried out by Mahindra & Mahindra Ltd."
Source: National Stock Exchange of India LimitedPress release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.