Others

Reference to the BIFR under provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA)

| Updated on April 28, 2015 Published on April 28, 2015

Rei Agro Ltd has informed BSE that as per the audited financial statements of the Company for the period ended December 31, 2014, accumulated loss has eroded more than 100% of the net worth of the Company and in accordance to provisions contained under section 3(1) (o) of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), the Company has become sick industrial company.

Therefore in terms of the provisions of section 15(1) of SICA, on April 28, 2015, has filed References with the Board for Industrial and Financial Reconstruction (BIFR) reporting sickness and erosion of net worth of the Company on the basis of the audited accounts of the Company as at and for the period ended December 31, 2014 and requesting / determination of measures to be adopted with respect to the Company.

Source : BSE - www.bseindia.com

Published on April 28, 2015
This article is closed for comments.
Please Email the Editor