Discharged from purview of SICA/ BIFR
Texel Industries announced that on 27 December 2016, the Company has received Order of Honorable BIFR, dated 30 November 2016, pronouncing that the Company ceases to be a Sick Industrial Company, within the meaning of Section 3(1)(o) of SICA, as the Company's net worth has turned positive. Therefore, the Company is discharged from the purview of SICA/BIFR.The said order is pronounced in the matter of Company's Miscellaneous Application No.250/2016, (BIFR Reg. No.433/2001) with BIFR.
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