Surana Strips to sell units to settle dues

New Delhi, Dec 27: Surana Strips Ltd today said it will sell its closed manufacturing units at Medak district, Andhra Pradesh in order to settle the outstanding dues to its secured creditors.

The company has received the approval of its board to dispose off the loss making units including land and building, plant and machinery, stores and spares.

The decision is subject to approval of members through Postal Ballot procedure and Extraordinary General Meeting of the shareholders, to be held on January 25, 2007.

The board has appointed two directors to act as functional directors to supervise the postal ballot process.

UNI