Millars India discharged from SICA / BIFR purview

Millars India Ltd has announced that BIFR (Board for Industrial and Financial Reconstruction) vide their order dated October 17, 2006, has discharged the Company from the purview of the SICA / BIFR.

The Hon. Bench has passed the said order after consideration of the fact that the Company has able to turn its net worth positive and has also been able to entirely wipe out its accumulated losses at the end of March 31, 2006. (based on the Audited Balance Sheet)

Source : Equity Bulls

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