The Exchange had sought clarification from Kansai Nerolac Paints with respect to news appearing in The Economic Times on April 07, 2015 titled 'Ascendas Close to Buying Nerolacs Chennai Land' .Kansai Nerolac Paints replied stating that Reference is drawn to the letter dated July 25, 2013, from the Company to the Stock Exchange, wherein we had intimated the Exchange that all the manufacturing activities at Perungudi (Chennai) factory had been stopped and as such, the assets have become surplus to our requirements. It was also mentioned that the Board has given its in-principle approval to explore various options for monetization of surplus assets of the Company. As at this point of time, no deal has been finalized and no decision on the same has been taken with regard to sale of Companys land at Perungudi, Chennai.As far as the newspaper report is concerned, we would like to state that the newspaper report is based on speculation. They do not wish to comment on speculation. Thus, there is no intimation that was required from the Company in terms of Clause 36 of the Listing Agreement.
The above information is a part of company’s filings submitted to BSE.
