Surana Strips to consider sale of loss making units

Surana Strips Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 18, 2006, to transact the following business:

1. To consider the sale of its closed and loss making manufacturing units (including land and building, plant and machinery, stores ands spares etc) individually or together situated at; Patancheru, Medak District, Andhra Pradesh & Chitkul Village, Medak District, Andhra Pradesh.

2. The sale of above units if approved by the board of directors shall be subject to Section 293(1)(a) and other applicable provisions of the Companies act 1956 and without prejudice to pending reference with BIFR under section 16 of Sick Industries Companies Act 1985.

Source : Equity Bulls

Keywords