Haldia Petrochemicals Board to convene meeting to notify Board for Industries

摘要

HPL board of directors will convene a meeting soon to notify the Board for Industrial and Financial Reconstruction (BIFR), known as graveyard of industrial units, according to a report the Times Of India. The move comes after a 50% erosion of the company's peak net worth in the last four years of reference. A company is declared a sick unit once 100% of its net worth is eroded, while it is notified as a potential sick unit in case of 50% erosion.