Reference & registration with BIFR

• Security Code: 530715
• Company: ALPSINDUS

Alps Industries Ltd has informed BSE that the Net Worth of the Company as on March 31, 2010 as per Audited Accounts presented before the board has been eroded fully, hence as per definition under section 3(1)(o) of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), the company has become a Sick Industrial Company. In view of the opinion formed by Board of Directors in its Meeting held on May 29, 2010, the Company has filed a Reference with The Board of Industrial & Financial Restructuring (BIFR) under first proviso of section 15 and other applicable provisions of the SICA. Further, the Board has registered the Company vide registration no. 3(A-4)/BC/2010 and Case No. 32/2010 dated June 29, 2010.