Ahmedabad, 3rd September, 2009 - Gujarat NRE Coke, India’s largest independent met coke producer, today issued a statement strongly condemning the misleading and baseless reports in some Editions of The Economic Times, attempting to colour the recent SEBI order against Austral Coke as a family feud.
The company has also strongly protested the report (titled: “Austral Coke too caught in family rivalry” / “Rivalry has dogged Austral since 1997”) published today in some editions of “The Economic Times”, calling the matter as farfetched and a fabrication of some unfounded imagination.
Commenting on the matter Mr Arun Kumar Jagatramka, Chairman and Managing Director, Gujarat NRE Coke Ltd said “Last year when we had raised questions on Austral Coke and their group company’s activities, it was purely done in public interest. However, recent developments against Austral Coke are purely an action initiated by regulatory authorities.”
Mr Jagatramka further added “It is extremely unfortunate that our name is being dragged in the matter for no logical reason. What is more disheartening is the fact that credible media companies who one would expect to act integrally and extremely responsibly have hastily reported the story, which is only adding spice and diverting public attention”.
Mr Jagatramka also added that “one of the prayers made by Gujarat NRE Coke Ltd in its suit against Austral Coke, before the Hon’ble High Court of Calcutta claiming defamation of Rs. 4761 crores is asking permanent injunction against Austral management restraining them from holding themselves out as our family members.”
The company wishes to specifically clarify to its shareholders and investors that Gujarat NRE Coke Ltd has no connection whatsoever with Austral Coke, and the company’s operations are in no way connected with them.
For more information contact:
Sutirtha Roy at +(91) 9879019880 |