With reference to the news item appearing in a leading financial daily titled Bharati Shipyard to appeal against Sebi’s open offer order, Bharati Shipyard said that “We wish to clarify that the news item as referred to above states that Bharati Shipyard is planning an appeal against the Sebi order on the open offer. Further our managing director Mr V Kumar has been quoted on the above subject. Accordingly, we wish to place this clarification on your records.”

The company also said that “At the outset, it may please be noted that the news paper had contacted Mr V Kumar early in the morning and V Kumar had categorically stated that he had not yet seen the Sebi’s observation letter on the subject. Further during the entire conversation, Mr V Kumar never said that our company is planning an appeal against the said order. Thus, the news item as referred to above is misinterpretation of the conversation.”

It added that “Such selective reporting and conclusions drawn by the media has created immense confusion amongst our constituents and therefore we are placing the above clarification on record.”