Financial Daily from THE HINDU group of publications
Friday, Feb 20, 2004
Financial Daily from THE HINDU group of publications Friday, Feb 20, 2004 |
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Corporate
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Sick Units Modi Rubber files reference with BIFR Our Bureau
New Delhi , Feb. 19 THE board of directors of Modi Rubber Ltd (MRL) have filed necessary reference with the Board for Industrial and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act (SICA). MRL said in a communiqué to the Stock Exchange, Mumbai, that the Board at its meeting held on December 6, 2003 resolved that the "company has sufficient reasons, even before the date of finalisation of its duly audited accounts, to form an opinion which the Board has determined that the company has become a sick as per SICA, as at the end of the accounting period the company's accumulated losses exceed its entire net worth".
More Stories on : Sick Units | Tyres
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