With reference to the News item appearing in the news paper about SBI notice of default, Glodyne Technoserve Ltd has clarified to BSE that 'the said new item is a notice issued by State Bank of India. The publication of such notice is a measure at the- discretion of the bank and neither the Company nor the directors/ guarantors have any control about the publication of such notice, news item. Therefore, since the Company or the guarantors did not had any control on such publication, it could not be reported.
The Company has been facing certain financial difficulties due to which there are defaults / delays in payments to banks / lenders, which has already been disclosed and reported in the annual report of the Company. The Company and its management have been working on the revival of the projects and also in discussion with some of lenders for overcoming the financial position.'
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