MFL referred to BIFR for revivalo

Chennai, Nov 21 (UNI) The Public Sector Madras Fertilisers Limited (MFL) has been referred to the Board of Industrial and Financial Restructuring (BIFR) for revival as accumulated losses have wiped out its assets.

MFL sources told UNI here today that the company had filed an application to BIFR in this regard on November 17 as part of statutory requirements of the company.

'We are yet to get a reply from the BIFR', the sources, said while confirming that an application was made to BIFR.

MFL has total accummulated loss of Rs 398 crore as on March 31 this year.

MFL had also informed the NSE that as reported in the Directors' Report to the shareholders attached to the 40th Annual Report 2005-06, the Company had made a reference dated November 16, 2006 (filed on November 17, 2006) to BIFR under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985.

UNI GV AA 1701