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| Exchange Disseminated Time 22/07/2016 10:44:02 | Ruchi Strips & Alloys Ltd has informed BSE that
"As we have earlier informed that the Audited Financial Statement of RSAL Steel Private Limited (Wholly Owned Subsidiary/RSPL) for the financial year ended March 31, 2016 as approved by the Board of Directors of RSPL, revealed that the losses of RSPL has exceeded its networth and hence the Board of Directors of RSPL formed an opinion that RSPL has prima facie become a Sick Industrial Company.
Therefore, we inform you that the RSAL Steel Private Limited (Wholly Owned Subsidiary) has filed Reference in Form-A alongwith the required documents to the Board for Industrial and Financial Reconstruction (BIFR) under Section 15 of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) today i e. July 21, 2016." |
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