Unitech Ltd has announced that various unfounded reports are appearing in news relating to exercise of put option by Lehman Brothers' realty fund with respect of its investment in Unitech's reality project in Mumbai.
The Company has received no notice of the exercise of any put option in respect of Lehman Brothers' investments in any of its projects. Therefore, such news regarding exercise of put option by Lehman Brothers is incorrect and without any substance, and is denied.
Any arrangements in respect of investments by Lehman Brothers' entities in any of Unitech's projects are subject to obligations of confidentiality and it would be inappropriate for the Company to comment further
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