Spicejet: Clarification
07-Feb-2011 Scrip Code:500285
Company: Spicejet Ltd
Subject: Clarification
Announcement: Spicejet Ltd has informed BSE that :
"We have received a letter from Mr. Kalanithi Maran, Chairman and Promoter of the Company regarding the news Item in Economic Times, New Delhi dated February 04, 2011.
As per the above mentioned letter, the news item appeared in Economic times, New Delhi of February 04, 2011 with headlines "2G spectrum Scam: Spicejet purchase by Kalanithi Maran under CBI scam" is totally false, malicious, motivated, preposterous and per-se defamatory. Further, legal notice has been issued to the Editor, Economic Times, to issue suitable retraction in the matter.
Further as informed and to place on record the entire transaction of purchase of SpiceJet shares by Mr. Kalanithi Maran has been in compliance with all statutory requirements. The funds were raised by borrowing from mutual funds / financial institutions etc against pledge of shares held by Mr. Kalanithi Maran in Sun TV Network Limited."