Bifr Upholds Jessop Sale To Ruia Cotex

The Board for Industrial and Financial Reconstruction (BIFR) has sanctioned the scheme for rehabilitation of Jessop Company Ltd (JCL), clearing the handover of the company to Ruia Cotex Ltd.

The implementation of the scheme, however, would be undertaken only after obtaining leave from the Calcutta High Court.

The High Court on May 16, 2002, responding to a writ petition filed by a workers union, passed an order directing that