Austral Coke terms dispute with Gujarat NRE Coke as Family dispute

Date: 07-Aug-2008: The dispute is continuing since 1997 in which several court cases in different honorable courts. The matter is accordingly sub-judicial and need not to discuss to media in open platform as both the sides have made allegation against each other.

As far as the capacity is concerned please note that 40 analysts have visited at the site and they were justified on technical parameters further company has their capacity confirmed by reputed Bank approved technical consultant. We request media to go through Page No. 169 of RHP wherein they have filed case against reputed news paper / channels and their Owner Mr. Vivek Goenka viz. Indian Express Newspapers, Business Standard, Aveeka Sarjkar, and Anand Bazar Patrika as party to their cases whenever media get involved in family dispute.

Further Gujarat NRE is our close competitor and as competitor they are on such dispute.

Further Mr. Arun Kumar Jagatramka was never original promoter and it was Mr. Ratan Lal Tamakhuwala, kindly refer to prospectus of Gujarat NRE dated 16th May 1994. On the very first day, Austral Coke & Projects Ltd., IPO has been fully subscribed.

Further Gujarat NRE has had the reputation of filing case against SEBI for withholding IPO of GREMACH and had accordingly lost the case, thus this is their regular habits.

Source : Equity Bulls

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