FACT to be declared a sick unit

 Fertilizers and Chemicals Travancore Ltd (FACT), which had been incurring losses of Rs 200 crore per annum over the last couple of years, will soon be declared a sick unit and referred to the Board of Industrial and Financial Reconstruction (BIFR), according to a highly placed official of the company.

 Stating that a special general body meeting has been convened on December 30, 2003 for seeking shareholders