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Article: Jessop comes out of sick bay

Article from:
The Hindustan Times
Article date:
May 3, 2006
Copyright

NEW DELHI, India, may 3 -- The Ruia Group is breathing a sigh of relief as its flagship heavy engineering outfit Jessop & Co Ltd has come out of the sick bay.

With this development, the Ruia Group is optimistic that Jessop will now be in a position to get bank loans more easily and execute key projects. In an order dated April 28, 2006, the Board for Industrial and Financial Reconstruction has observed that Jessop has ceased to be a sick company and has been discharged from its purview. Jessop claims that with the much-awaited development, it will be able to deploy its resources in a more productive way and move ahead with its plans to diversify into new product lines and expand product ...

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