Texel Industries has informed that on December 27, 2016, the Company has received Order of Honorable BIFR, dated November 30, 2016, pronouncing that the Company ceases to be a Sick Industrial Company, within the meaning of Section 3(1)(o) of SICA, as the Company’s net worth has turned positive. Therefore, the Company is discharged from the purview of SICA/BIFR. The said order is pronounced in the matter of Company’s Miscellaneous Application No.250/2016, (BIFR Reg. No.433/2001) with BIFR.
The above information is a part of company’s filings submitted to BSE.