BIFR discharges Kilburn Engineering from SICA/BIFR purview

Kilburn Engineering Ltd has announced about the following:

1. The Company has received order from the Board for Industrial & Financial Reconstruction (BIFR) dated August 23, ´06 discharging the Company from the purview of SICA / BIFR.

2. The said order from BIFR interalia states that "on consideration of the facts, merits of the case and the materials on record notes that the Company besides being able to turn its networth positive (+) by Rs 6.875 million at the end of March 31, ´06 has also been able to fully implement the prescribed provisions of SS-04. The Board further notes from the Company’s ABS for the FY ended March 31, ´06 that the Company has also been able to continue its normal operations. As the Company ceases to be a Sick Industrial Company, within the meaning of Section 3(1)(o) of the Act, the Board hereby discharges the Company M/s Kilburn Engineering Ltd (KEL) from the purview of SICA/ BIFR".

Source : Equity Bulls

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