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Jindal Poly Films has said that Radha Madhav Corporation’s announcement that the latter is in talks with Jindal Poly Films for sale of the Rudrapur unit is false. “We are not negotiating purchase of any business/unit with the said company (RMCL) and the Board of Directors of Jindal Poly Films has neither considered nor taken any decision in this regard. We strongly condemn and deny these reports and confirm that we have not approached the company for any such acquisition,” Jindal Poly Films said in a statement to the exchanges. Earlier, on February 12, Radha Madhav Corporation had informed the exchanges that it had authorised its MD & CEO to showcase, negotiate, discuss and execute various documents, agreements, deeds, etc. with Jindal Poly Films for the sale of the company’s Rudrapur unit. Shares of Jindal Poly Films slipped 2 per cent to ₹212.05. Radha Madhav’s scrip too fell 1.6 per cent to ₹39.55 on the NSE.
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