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Saturday, November 6, 1999
IDBI to probe Onida `sickness'
PRESS TRUST OF INDIA
NEW DELHI, NOV 5: The Board for Industrial and Financial Reconstruction has asked term-lending institution IDBI to conduct an enquiry into the reasons for ``sickness'' of Mirchandani group company, Onida Savak Ltd to help the board reach a decision on declaring the company "sick".Hearing an application filed by Onida Savak to be declared "sick", a two-member bench of BIFR appointed IDBI to conduct the enquiry saying the company could not be declared sick without further enquiry. The IDBI has been asked to submit its report latest by November 20, 1999. The group's flagship Onida is making CTVs and music systems.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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