Prakash Industries update on power company

With reference to the news item appearing in a leading web portal titled "Prakash Ind may raise Rs 1000 cr via SPV Prakash Thermal Pwr:Sources", Prakash Industries Ltd has clarified to that the news has been released by them on their assumptions only and the Company has not given any information or given any facts to them in this regards. However, the Company has signed an MoU with Madhya Pradesh State Government for setting up 1000 MW power plant in the State for which the Company has already intimated to the Stock Exchange.