The Exchange had sought clarification from Videocon Industries with respect to news article appearing in The Economic Times on June 4, 2015 titled ‘Videocon in JV Talks with 3 Global Smart City Solution Providers’. Videocon Industries replied stating that they would like to inform you that Videocon Telecommunications Limited, a Subsidiary of the Company, in the normal course of business keep on exploring various business opportunities. Currently, it is working on smart cities model, as proposed by Honble Prime Minister Shri Narendra Modi. As and when there is any material development in this behalf which require disclosure under clause 36 of the Listing Agreement, the Company will be prompt to inform the Stock Exchanges. The Company has been fully compliant with the provisions of the Listing Agreement, including the provisions with regards to dissemination of corporate information/events, which could have a bearing on the operations/performance of the Company. The company assures you that they shall continue to promptly inform the material events/information to the Stock Exchanges, as done in the past.
The above information is a part of company’s filings submitted to BSE.