Diversified PSU Andrew Yule & Company was de-registered from the Board for Industrial and Financial Reconstruction (BIFR) after its hearing at the quasi-judicial body yesterday.
"Yesterday, there was a hearing at BIFR. Since we have started making profits for some time and our networth has become positive, the company has been de-registered", chairman and managing director of Andrew Yule Kallol Datta told PTI.
Andrew Yule was referred to BIFR in 2003 as a sick company and the rehabilitation package was approved in 2007.
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The company started making profits from 2007-08 and networth turned positive in 2009, he said.
But the company continued to remain under BIFR until yesterday.
All the accumulated losses had also been written off, Datta said.
