Hyderabad, March 29
THE Board for Industrial and Financial Reconstruction (BIFR) has sanctioned a rehabilitation scheme for S.S. Organics Ltd.
In a communiqué to stock exchanges, the company said its board met on Monday and noted the approval of rehabilitation scheme dated February 1. Accordingly, the board considered and approved a proposal to increase its authorised share capital from Rs 8 crore to Rs 10.5 crore.
The board also approved a resolution to allot 1.5-lakh equity shares of Rs 10 each to the Industrial Development Bank of India towards conversion of interest due to the IDBI.