India Radiators Ltd Share Price

(505100)

India Radiators Ltd was formerly known as Rayale Corporation Mysore Limited, and was incorporated in 1949. They are currently engaged in the business of sub-assembly of automotive components, specifically at their Pondicherry unit. Unfortunately, since 1998, the company has been making losses which have caused their net worth to fall below zero by 1999. As a result, the Company was declared sick by the Board of Industrial and Financial Reconstruction in 2000, and the Draft Rehabilitation Scheme filed by the Company was under consideration until 2016, when it was repealed. Mercantile Ventures Limited has now taken over the Company under the second proviso of Section 47 of the Companies Act 2013, with the goal of infusing new funds and settling with workers, statutory authorities, banks, and other financial institutions.