26th-Mar-2012 08:44Source: BSE

Dwarikesh Sugar - Corporate Debt Restructuring

Dwarikesh Sugar Industries Ltd has informed BSE that a Circular Resolution dated March 24, 2012 has been passed by Directors u/s 289 of the Companies Act, 1956 for the following matter:

(a) Authorising reference to Corporate Debt Restructuring cell.

(b) Designation of Power to Finance Committee for Carrying out all acts or deeds or things in this regard.

The reference to CDR has been necessitated on account of estimated negative cash outflow on account of consecutive losses in last few years for various factors including high cost of Sugarcane, lower realisation, higher interest burden etc.