Essel Infra Projects Limited is in advanced talks to buy a controlling stake in Hindustan Dorr-Oliver Ltd. (BSE:509627) of IVRCL Limited (BSE:530773), two people with direct knowledge of the matter said. “The talks are at a final stage and are being led by the creditors of IVRCL who are trying to sell the company's assets through a piecemeal approach to recover their dues while simultaneously looking for a new owner,” one of the two people said on condition of anonymity. A spokesperson for Essel Infraprojects declined to comment.

Emails sent to IVRCL and Hindustan Dorr-Oliver Limited remained unanswered till the time of going to press. The Exchange has sought clarification from IVRCL Limited with respect to recent news item captioned "Essel in talks to buy stake in IVRCL unit". In this regard, Exchange have advised the Company to provide clarification/confirmation on the news item in detail including the following, whether such negotiations were taking place and whether you/company are aware of any information that has not been announced to the exchanges which could explain the aforesaid movement in the trading.

The response from the company is awaited.