India’s NOCIL classed as “sick industrial company”

National Organic Chemical Industries Ltd (NOCIL) has been officially classed as a “sick industrial company” by India’s Board of Industrial and Financial Reconstruction (BIFR). An announcement by NOCIL on the National Stock Exchange of India confirmed the designation.

According to a report on the Indian Rediff website, the company’s rubber chemicals unit falls under the classification, following the closure of Nocil’s petrochemicals activities.

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