BAG Films clarifies fund raising news

With reference to the news item titled "BAG Films in talks to raise funds via arm Big Glamours:Sources", BAG Films & Media Ltd has clarified that the Company deny any such information which may be based purely on the market rumours. The Company has not sold any Stake of B.A.G. Glamour to Star T.V. as far as the rising of funds through FCCBs is concerned, the Company has already intimated the same to the Stock Exchange, though it would like to clarify that funds through FCCBs are to be raised in B.A.G Films & Media Ltd and not in B.A.G Glamour Pvt Ltd as is seen in the quoted news article.