BIFR for Thapar Agro’s closure

NEW DELHI, JANUARY 29: The Board for Industrial and Financial Reconstruction (BIFR) has issued `winding up notice' to sick industrial comp...

NEW DELHI, JANUARY 29: The Board for Industrial and Financial Reconstruction (BIFR) has issued `winding up notice’ to sick industrial company Thapar Agro Mills.

A two-member bench of BIFR, comprising chairman P P Chauhan and member G Narayanan, said that it had formed the "prima facie opinion" that Thapar Agro should be wound up since all possibilities of rehabilitating the company had already been exhausted. "The company was not likely to become viable and hence it was just and equitable that it be wound up," the bench said.

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