Disclosure under Clause 53 of Listing Agreement with Stock exchanges
In terms of Clause 53 of Listing Agreement, please note that company had executed an agreement with Digicliff Solution Private Limited on 24th March, 2015 to undertake the assignment to digital marketing of brand.
The Agreement shall remain in force until specifically terminated.
It is hereby confirmed that:
a) Neither the above Company nor any of its associates have any shareholding in the Company.
b) The above said Agreement does not contain any clause, by virtue of which, the above mentioned Company:
-Can appoint any nominee Director on the Board of the Company; or
-Can exercise any management control; or
-Have any potential conflict of interest arising out of such agreements.
c) Except as provide herein above, the Company has not entered into any other back to back treaties / contract / agreements / MOUs similar instruments with media companies and/or their associates for the purpose of advertising, publicity, etc