The Board For Industrial and Financial Reconstruction (BIFR) in its order dated July 04, 2007 has discharged GTC Industries from the purview of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).According to an official release issued by GTC Industries to the BSE today, since its net worth had turned positive by Rs 38.83 crore (audited accounts as on March 31, 2007), the company had filled an application to the BIFR for discharging it from the purview of SICA. The BIFR order was issued in response to the application.
