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This is an archive article published on January 6, 1998

ATIL takeover cleared

NEW DELHI, January 5: The Board for Industrial and Financial Reconstruction (BIFR) has sanctioned the takeover of the ailing Agro-Tech India...

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NEW DELHI, January 5: The Board for Industrial and Financial Reconstruction (BIFR) has sanctioned the takeover of the ailing Agro-Tech India Ltd (ATIL) by American Rise Inc. of the United States.

The draft scheme, envisaging an investment of Rs 54 crore, would mean the US firm taking over ATIL its newly formed subsidiary.

ATIL, promoted in joint sector by Punjab Agro Industries Corporation, was engaged in processing of basmati rice, cattle feed etc.

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