krishna synthetics ltd Management discussions


KRISHNA SYNTHETICS LIMITED ANNUAL REPORT 2006-2007 MANAGEMENT DISCUSSION AND ANALYSIS BIFR REFERENCE: The Companys reference with BIFR is still pending. No hearing took place in the year under review. OTS WITH PICUP: The Companys had not paid the instalments of Interest and Principal to PICUP for the last several years due to inadequacy of the profits and the financial burden of the company was increasing day by day. In order to liquidate their dues, the company did One Time Settlement (OTS) with PICUP for RS. 45.00 lacs payable in 12 monthly instalments. The same was paid to PICUP by M/s Reliance Forms Private Limited against Agreement to Sell of the fixed assets of the company at B-19, Phase-II, Noida.