Bizbits

The 25 additional scrips are: Genuine Commodities Dev Co, Ghar Finance amp; Leasing Co, Girish Hotel Resorts and Health Farm, Girish Travels amp; Couriers, Global Exhibitions, Global Securities, Goldmine Fintrade, Goodearth Financial Services, Gowri Polymers, Grandleas Florex, Greenfield Industries, Greenview Power Projects, Gremach CNC, Gujarat High Tech Indust, Gujarat Inject, Haji Manzoor Alam Industries, Hallmark Drugs amp; Chemicals, Hallmark Healthcare, Hartron Networks, Hemamukta Industrial Investment Co, Heritage Packaging, Hind Wire Industries, Hindustan Agro Chemicals, Hitesh Textile Mills and Hotel Banjara.

BIFR to wind up PNFCL

NEW DELHI: The Board forIndustrial and Financial Reconstruction BIFR has formed a prima facie opinion to wind up the state-owned Punjab National Fertilisers and Chemicals Limited PNFCL with no party showing any interest in rehabilitating the sick company.

In a recent hearing, the board noted that the company was with BIFR since 1987 and the scheme sanctioned for its rehabilitation had failed. The sole dependence of the company on subsidy for its survival indicated that there were hardly any prospects for the company. Even the advertisements issued for change of management and IDBI8217;s operating agency personal contacts with parties considered capable to take over the sick company, had not elicited any suitable response.

Further, the company8217;s CEO and no one from Punjab State Industrial Development Corporation or the government of Punjab were present at the crucial hearing indicated that no one was interested in revival, the board noted. On the other side, the company8217;s assets were dwindling without any concrete funding plansand proposal for revival.