With regard to divestment of Karcham & Baspa Hydro Power Projects
Jaiprakash Power Ventures announced that the Company has received a notice from TAQA India Power Ventures informing their withdrawal from the Acquisition Transactions as defined in the Acquisition Agreement dated 01 March 2014 entered into between Jaiprakash Power Ventures and TAQA India Power Ventures & Others due to change in their business strategy and priorities of their group.Such a withdrawal makes TAQA India Power Ventures liable for payment of break fee in terms of the said Acquisition Agreement.
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