BIFR orders for winding up of Consolidated Fibres

Board for Industrial and Financial Reconstruction (BIFR) has sent an order dated March 13, 2007, which inter-alia states "the Bench confirmed its prima-facie opinion that it would be just, equitable and in public interest if the Company was wound up in terms of Section 20(1) of the Sick Industrial Companies (Special Provision) Act, 1985 and let this opinion be forwarded to the concerned High Court along with copies of all the orders passed by the Bench in the case from time to time, for further necessary action in accordance with law".

The stock was trading at Rs.1.62, up by Re.0.03 or 1.89%. The stock hit an intraday high of Rs.1.66 and low of Rs.1.52. The total traded quantity was 56684 compared to 2 week average of 62695.

Source : Equity Bulls

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