Jaiprakash Associates Ltd has clarified with reference to the news item appearing in a leading financial daily titled "Jaypee may rope in Cement Biz Partner".

In an expanding organization like ours, exploring various opportunities is a continuous process. As a sequel to this effort, we keep examining various proposals.

As regards the averment in the report that the Company is exploring the option to dilute up to 26%, the article itself contains the comments of our executive chairman, who had in fact denied there being any plan to rope in anybody or any partner.

We may add here that the Company has in place a "Restructuring Committee of Directors", which examines various proposals from time to time to enhance the shareholders' value. The said Committee is the first point to examine any such proposal as referred in the news item and we confirm that no such proposal has so far been put up to the said Restructuring Committee.

(Sourced from Equity Bulls)