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Wednesday, Mar 30, 2005

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BIFR nod for SS Organics revamp plan

Our Bureau

Hyderabad , March 29

THE Board for Industrial and Financial Reconstruction (BIFR) has sanctioned a rehabilitation scheme for S.S. Organics Ltd.

In a communiqué to stock exchanges, the company said its board met on Monday and noted the approval of rehabilitation scheme dated February 1. Accordingly, the board considered and approved a proposal to increase its authorised share capital from Rs 8 crore to Rs 10.5 crore.

The board also approved a resolution to allot 1.5-lakh equity shares of Rs 10 each to the Industrial Development Bank of India towards conversion of interest due to the IDBI.

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