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| Exchange Disseminated Time | Ind-Swift Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 04, 2015, inter alia, has took the following decisions:
1. The Board of Directors of the Company have formed an opinion to make a reference to the Board for Financial and Industrial Reconstruction (BIFR) pursuant to the provisions of Sec 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985, as the accumulated losses have exceeded the Net worth of the Company as per the Audited Financial Results as at March 31, 2015.
2. The Board of Directors has authorized Managing Director to look for infusion of additional capital/ funds in the Company by way of equity/ debt. |
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