Tamil Nadu - Chennai   

Court orders winding up of SIV industries

By Our Staff Reporter

CHENNAI, SEPT. 14. The Madras High Court has ordered the winding up of the South India Viscose Industries Limited in Coimbatore.

Justice K. Raviraja Pandian passed an order to this effect on a petition filed by the Board for Industrial and Financial Reconstruction, which had earlier recommended the winding up of the SIV Industries.

The Managing Director of the Company also filed an affidavit stating that the company could not be revived and that at least for the purpose of safeguarding the assets of the company an order for winding up was immediately needed.

In his order, Mr. Justice Raviraja Pandian directed the Official Liquidator to take charge of the company properties.

The company's present management shall deposit a sum of Rs. 10,000 with the Official Liquidator for "initial expenses."

Printer friendly page  
Send this article to Friends by E-Mail

Tamil Nadu

News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Updates: Breaking News |

Stories in this Section

• Rs. 1 crore bonanza for two city colleges
• A drama in the offing
• Ethics is for engineers too: Vittal
• Senior citizens' homes should have children: Governor
• Alandur municipality to sink borewells
• The brakes failed, but the driver didn't
• Court orders winding up of SIV industries
• 2 held for selling fake industrial belts
• Around the City
• In Chennai Today

Copyright © 2004, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu