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BIFR Package

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(Querist)
06 March 2010 A Company that has just come out of BIFR negotiates with its creditors and bankers at a term that is more favourable than BIFR terms, then has it to obtain BIFR approval for the same? What would be the scenario if the Company is a PSU?
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Rasesh

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Rasesh (Expert)
06 March 2010 If it as come out of BIFR i.e. no longer registered with BIFR, then BIFR approval nor intimation is required. The same should apply to a PSU.
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