Reliance Industries Limited (RIL) has clarified that it is unable to comment on speculation and rumours on a deal to acquire the retail businesses of Future Group.
RIL was replying in a clarification to stock exchanges on a possible deal with Future Group.
“…And would like to clarify that we are unable to comment on media speculation and rumours and it would be inappropriate on our part to do so,” RIL said.
“The company evaluates various opportunities on an ongoing basis. Further, there is no information which has not been announced to the stock exchanges and which should have been announced by the Company in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” Reliance said.
“We have made and will continue to make disclosures in compliance with our obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and our agreements with the stock exchanges,” RIL said.
Future Retail has sent a reply to stock exchanges pertaining to the issue.
“Please be further informed that the management of the Company continues to explore and evaluate various opportunities or associations in the interest the Company, as and when considered appropriate, which is always a subject matter of further feasibility studies and the need for requisite consents in accordance to the applicable laws and other stakeholders,” Future Retail said.
Future Retail said the information to be provided/event to be disclosed in accordance with the requirements prescribed under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), are intimated to the stock exchanges based on the decisions taken by the board of directors or relevant committee, as the case may be, and also when any of information or event becomes reportable pursuant to Regulation 30 of the Listing Regulations.
“We are committed to make necessary disclosure in terms of Regulation 30 of the Listing Regulations of various decisions of the Board/Committees, which would be binding on the Company subject to the applicable terms and conditions of relevant agreements/arrangements,” it said.
“At present, there is no such decision taken by the Board of Directors or any of its Committees, which calls for dissemination of information or disclosure of event in terms of Regulation 30 of the Listing Regulations. Accordingly, we would be unable to comment upon the said News Article,” Future Retail added.
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