Held on 29 May 2014
Raj Oil Mills announced that at the meeting of the Board of Directors of the Company held on 29 May 2014, the Directors have approved the audited financial results for the quarter and year ended 31 March 2014. The Audited Financials results of the Company shows that the Company has incurred huge losses during the current financial year eroding the net-worth of the Company to the major extent, which in result have affected the financial stability of the Company.In furtherance to the above the Board of Directors of the Company at their meeting held on June 06, 2014, have decided to make application under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985 and have also decided to refer the Company to the Board for Industrial and Financial Reconstruction (BIFR) under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985.
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