BIFR declares Siddhartha Tubes as a sick unit

Siddhartha Tubes Ltd has announced that the Hon'ble Board for Industrial and financial Reconstruction, New Delhi had declared the Company as a Sick Unit in the matter of reference filed by the Company under section 15 (1) of sick industrial Companies (Provisions) Act, 1985 and the Board appointed IDBI as the operating agency (OA) with directions to work out a rehabilitation scheme with in a time period of eight weeks and submit the same before Board.

Source : Equity Bulls

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