BHAGYNAGAR

BHAGYNAGAR: The Exchange had sought clarification from Bhagyanagar India Limited with respect to announcement dated 10-Apr-2017, regarding Mr.Badarish H Chimalgi has been appointed as Company Secretary & Compliance Officer of the Company with effect from April 10, 2016. The said Company Secretary will also be acting as Compliance Officer of the Company. ". On basis of above the Company is required to clarify following: 1. Brief profile (in case of appointment);In this regards, the company has informed the Exchange that Badarish H Chimalgi is a graduate in B. Com (Hons) from Osmania University

BHAGYNAGAR:The Exchange has sought clarification from Bhagyanagar India Limited with respect to announcement dated 10-Apr-2017, regarding Mr.Badarish H Chimalgi has been appointed as Company Secretary & Compliance Officer of the Company with effect from April 10, 2016. The said Company Secretary will also be acting as Compliance Officer of the Company. ". On basis of above the Company is required to clarify following: 1. Brief profile (in case of appointment);The response of the Company is awaited.

Members of the Exchange are hereby informed that the trading in Equity Shares of Bhagyanagar India Limited shall be suspended w.e.f. March 10, 2017 (i.e. closing hours of trading on March 9, 2017) on account of Reduction of Share Capital (as integral part of Scheme of Arrangement).

The Exchange had sought clarification from Bhagyanagar India Limited with respect to announcement vide letter dated October 12, 2015 wherein the Board of Directors has finalised and approved the proposal for demerger of Solar Business to Surana Telecom and Power Limited and Real Estate Business to Bhagyanagar Properties Private Limited in terms of the Scheme of Arrangement pursuant to the provisions of the Companies Act, 1956 / 2013 (the Scheme).The reply from the Company is attached.

The Exchange has sought clarification from Bhagyanagar India Limited with respect to announcement vide letter dated October 12, 2015 wherein the Board of Directors has finalised and approved the proposal for demerger of Solar Business to Surana Telecom and Power Limited and Real Estate Business to Bhagyanagar Properties Private Limited in terms of the Scheme of Arrangement pursuant to the provisions of the Companies Act, 1956 / 2013 (the Scheme).On basis of above the Company is required to clarify : 1. Brief details of the business to be demerged2. Turnover of the demerged business and as perc

News Verification : The media had reports that Bhagyanagar India Limited is to sell 50% of its Gachibolwli land to Reliance Industries for around Rs. 70-80 crores and the remaining 50% of the land will be utilised by jointly developing it with Godrej Properties. The land will be used to develop malls and the project size is said to be around Rs 150-200 crores. 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. Bhagyan

News Verification : The media had reports that Bhagyanagar Metals Limited is likely to enter into a joint venture or sell its property to DLF. 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. Bhagyanagar Metals Limited has vide its letter inter-alia stated, "The Company has not made any statement in this regard. However, we would like to state the Company is negotiating with DLF Commercial Developers Ltd., to sell/d