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BIFR Status

Love Kumar (COMPANY SECRETARY) (101 Points)

09 February 2011

A listed company filed references to BIFR under Section 15 of SICA four times in the year 2001, 2003, 2004 & 2005.

As on this date the statue of all these cases on official website of BIFR is shown as DISMISSED AS NON MAINTANABLE.

The company 's official saya that they had filed an appeal to AAIFR. But no such data is available on site.

My query is whether the company can be said as sick industrial company registered wth BIFR for the purpose of availing benefit of Section 22 of SICA.

Please express your opinion..

Thanks & Regards

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4 Replies

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 09 February 2011

As you already said the status shows application dismiss then cant be sick company.

SANTOSH SHAH (Company Secretary) (754 Points)
Replied 10 February 2011

Originally posted by : Love Kumar
	A listed company filed references to BIFR under Section 15 of SICA four times in the year 2001, 2003, 2004 & 2005. As on this date the statue of all these cases on official website of BIFR is shown as DISMISSED AS NON MAINTANABLE. The company 's official saya that they had filed an appeal to AAIFR. But no such data is available on site. My query is whether the company can be said as sick industrial company registered wth BIFR for the purpose of availing benefit of Section 22 of SICA. Please express your opinion.. Thanks & Regards

Hi Kumar

In my opinion, the company cannot be considered as Sick Company.

There has to be some communication, correspondence from BIFR, becoz company needs to be recognized by BIFR Or AAIFR as Sick . As the status of companys application is Dismissed not maintainable, better clarify with the BIFR authorities in this regard. The company cannot be treated as sick just on the basis of filing application with BIFR.

Other opinions are welcome.

regards

Santosh Shah

Priya Sharma (Company Secretary & Student.MBA) (998 Points)
Replied 10 February 2011

Hii Kumar

Dismissed in no way means that BIFR has given its approval and declared the concerned company as SICK co.I too support Santosh and you should speak to the concerned authorirty, because in case your if your application has been accepted and BIFR has accorded its consent, then in that case....you will see the server generated message as"DECLARED SICK". Since your case has not been alloted this message beside the case no. you have to speak and find out the reason for the status mentioned inthe site for your company.

Regards

Priya Sharma