The Board for Industrial and Financial Reconstruction (BIFR) has issued show cause winding up notices to three private sector companies "" Annapurna Cement, Suvin Cement and AVJ Wires. BIFR said that they cannot be revived on a long-term basis and all possibilities of their rehabilitation have been exhausted. It reasoned that there was no concrete rehabilitation proposal with means of finance fully tied up before the board for consideration despite sufficient opportunities allowed to all concerned. No other party was available to take over the units for rehabilitation and all possibilities of reviving the companies had been explored and exhausted, it said. In some cases, promoters and co-promoters of the companies did not show their seriousness and resourcefulness.
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