Rights issue News
Honda Siel on brink of turning sick, chairman told via board circular
Honda Siel Cars India Ltd (HSCI) chairman Siddharth Shriram was kept in the dark about the prospect of the joint venture car company having to declare itself a potentially sick unit under the Sick Industrial Companies Act (SICA). Such a financial condition had impelled the management to expedite a board resolution for fresh infusion of equity capital through a rights issue.
The move is significant
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