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BIFR THWARTS MARDIA BID TO REGISTER AS SICK CO AGAIN (the company would not have turned sick if funds had not been diverted).

India Business Insight

| March 27, 2002 | COPYRIGHT 2001 Silverline Information Systems Pvt. Ltd. (Hide copyright information)Copyright

The Board for Industrial and Financial Reconstruction has rejected the third attempt of Mardia Chemicals to register as a sick company. This will benefit institutional lenders who have extended Rs800 crore to the company for its project to manufacture …

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