Status of reference filed with Board for Industrial & Financial Reconstruction

Samtel Color Ltd has informed BSE that the reference of the Company registered with the Board for Industrial & Financial Reconstruction (BIFR) (Case No 58/2012) in terms of the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) has been abated by BIFR based on an application filed by the Operating Agency ICICI Bank Limited.

The Company against the said Order of the BIFR has preferred an appeal with Appellate Authority for Industrial and Financial Reconstruction (AAIFR).

Hence, to this effect all the protections extended to the Company by Section 22 of SICA stand restored.

Source : BSE - >

Published on July 14, 2016


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