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| Exchange Disseminated Time 30/11/2016 13:54:19 | With respect to announcement dated November 24, 2016, Khaitan (India) Ltd has now informed BSE as under :
1. Reasons for such a reference/petition :
- The reason would be that the Company's net worth has been fully eroded as at the end of the financial year 2015-16 and hence the reference under section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985.
2. Impact of such reference/petition on listed entity :
- The impact of the above would be that the rehabilitation scheme will be prepared. Once the scheme is prepared, submitted and approved, we would be able to advise the impact. |
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