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This is an archive article published on September 27, 1999

Hindustan Wires declared sick co

NEW DELHI, SEPT 26: The Board for Industrial and Financial Reconstruction (BIFR) has declared Hindustan Wires as a sick industrial compan...

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NEW DELHI, SEPT 26: The Board for Industrial and Financial Reconstruction (BIFR) has declared Hindustan Wires as a sick industrial company and appointed Industrial Investment Bank of India (IIBI) as the operating agency to look into its revival.

IIBI, the bench said, will examine the viability of the company and formulate a rehabilitation package if the company was found viable. The bench noted the firm’s networth at Rs 9.93 crore was completely wiped off by accumulated losses of Rs 11.81 crore.

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