Hindustan Wires declared sick co

NEW DELHI, SEPT 26: The Board for Industrial and Financial Reconstruction BIFR has declared Hindustan Wires as a sick industrial company and appointed Industrial Investment Bank of India IIBI as the operating agency to look into its revival.

IIBI, the bench said, will examine the viability of the company and formulate a rehabilitation package if the company was found viable. The bench noted the firm8217;s networth at Rs 9.93 crore was completely wiped off by accumulated losses of Rs 11.81 crore.