Unitech on Wednesday said it has received no notice of the exercise of any put option in respect of Lehman Brothers’ investments in any of its projects.
In a clarification sent to the Bombay Stock Exchange (BSE), Unitech said 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 realty project in Mumbai.
“Such news regarding exercise of put option by Lehman Brothers is incorrect and without any substance, and is denied,” the company said.
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, it said.
Unitech shares fell 3.60 per cent to Rs 80.35 on the BSE.