Hiran Orgochem Ltd: Outcome of Board Meeting

Hiran Orgochem Ltd has informed BSE about outcome of Emergency Board Meeting held on June 02, 2011, as under :

"The Managing Director appraised the Board that due to constricted fund flow from the Company's banker, the factory faced problem of absenteeism of workmen as well as paucity of Raw Material supply. Due to these factors the Company's WIP Stock got spoilt and had to be disposed off as waste. This will have severe financial impact which Company is endeavoring to assess. In the ensuing Board Meeting, Managing Director will appraise the Directors the extent of loss that the Company has suffered."