“The data revealed is factually incorrect and deceptive and we had not obtained any question from the media previous to the publishing of the information article,” stated the corporate in an alternate submitting.
One97 additional clarified that that the situations presently being reported by the media pertain to related previous enquiries relating to third celebration retailers, including that the retailers are impartial entities who should not a part of its group.
“We verify that we had totally cooperated with the authorities and had complied with all their directives. Moreover, we might additionally prefer to take this chance to make clear that opposite to media reviews there was no probe on the Firm or its subsidiaries, the ED’s probe is on third-party merchants.
The corporate additional urged stakeholders and traders to not depend on such media reviews.
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“We urge traders and stakeholders to not depend on unverified media reviews and guarantee you that ought to any materials developments happen, we’ll promptly disclose the identical in accordance with SEBI (Itemizing Obligations and Disclosure Necessities) Rules, 2015.”On97 Communications inventory costs recovered 1 per cent after having plunged 9 per cent because the report accusing the corporate was revealed.
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