Sharp India has informed that the Company has, in pursuance of the provisions of Section 23(1) of the Sick Industrial Companies (Special Provisions) Act, 1985, reported to the Board for Industrial and Financial Reconstruction the fact that its accumulated losses, as at March 31, 2016, have resulted in erosion of more than 50 percent of its peak net worth during the immediately preceding four financial years. In the opinion of the Board of Directors of the Company, the report made by the Company to the Board for Industrial and Financial Reconstruction of the fact of erosion of net worth of the Company is material for the Company.
The above information is a part of company’s filings submitted to BSE.
