News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Advts:
Classifieds |
Employment |
Business
-
Briefly
Pennal Profiles appeals to Appellate Authority
HYDERABAD: Pennar Profiles has filed an appeal before the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) against the winding up order given by the Board for Industrial and Financial Reconstruction (BIFR) earlier. The company has informed the stock exchanges that its appeal has been admitted and BIFR's order is stayed till the AAIFR hearing. It said Alumeco A/S Denmark was ready with funds to settle all dues to all financial institutions and banks under the one time settlement (OTS) scheme, in accordance with the rehabilitation plan submitted by Pennar. Alumeco will also join as co-promoter. It said the OTS had already been approved by institutions such as ICICI, State Bank of Hyderabad, State Bank of India, and IFCI. Only IDBI has yet to give its approval, which is also expected in two weeks time, it said.
Our Special Correspondent
Printer friendly
page
Send this article to Friends by
E-Mail
Business
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 |
|
