| Updated on May 23, 2016 Published on May 23, 2016

Golden Tobacco Ltd has informed BSE that in view of the Supreme Court Order dated May 12, 2016 in the matter of Director General of Income Tax (Admn.) & Anr against the Company, the pending Modified Draft Rehabilitation Scheme (MDRS) before the BIFR is not maintainable.

Since, the Company’s Net Worth has been fully eroded as on March 31, 2016 therefore, the Board of Directors of the Company at its Meeting held on May 23, 2016 decided to file a fresh reference under section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 before the Hon’ble BIFR.

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Source : BSE - >www.bseindia.com

Published on May 23, 2016
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