Ansal terminates agrreement for township project

New Delhi: Almost a year after it signed a memorandum of understanding (MoU) with Dubai-headquartered Deyaar Development PSC for developing a mega mixed use township in India, Ansal Properties & Infrastructure Ltd today informed the BSE that the transaction could not be given effect. 'With reference to the earlier announcement dated May 9, 2007 about signing of term sheet or MoU with Deyaar Development PSC, for participation in the project of the company, Ansal Properties has informed the BSE that the transaction could not be given effect and necessary termination agreement for the same has been entered into on May 6, 2008,' the company said in a notice to the stock exchange.