Marathon Nextgen ceases to be a sick company, discharged from BIFR / SICA

Marathon Nextgen Reality & Textiles Ltd has announced that the Board for Industrial & Financial Reconstruction (BIFR) at a meeting held on October 12, 2006 has issued directions:

1. That the Company ceases to be a sick industrial Company within the meaning of section 3(1)(o) of the SICA Act.

2. Discharges the Company from the purview of the SICA / BIFR and

3. That the Special Director, appointed by BIFR on the Company's Board of Directors (BOD) would stand relieved with immediate effect. Accordingly Shri S N Bhargava, the Special Director, ceases to hold office as Director.

Source : Equity Bulls

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