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| Exchange Disseminated Time | | Winsome Yarns Ltd has informed BSE that the Board of Directors have consented to approach Board for Industrial and Financial Reconstruction (BIFR) as the financial position of the Company, as reflected in its Annual accounts for the financial period ended on September 30, 2013 makes it fall within the ambit of the provisions of section 23 of SICA, which provides that if the Accumulated Losses of an industrial Company as at the end of any financial year have resulted in erosion of 50 percent or more of its Peak Net Worth during the immediately preceding 4 (four) financial years, then the company should convene a general meeting of its shareholders for considering such erosion and report the fact of such erosion to BIFR. |
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