BLUE BIRD (INDIA) LTD. - Reference under section 15(1) of Sick Industrial Companies (Special Provision) Act, 1985

With reference to earlier announcement dated July 26, 2011 regarding Company's application to the Board of Industrial and Financial Reconstruction, Delhi (BIFR), Blue Bird (India) Ltd has now informed BSE that, since Company's bankers have initiated action under section 13(4) of the SARFAESI Act, the Hon'ble Bench of BIFR has dismissed the reference as non-maintainable.<br/><br/>The Company has filed securitization application under section 17 of the said act in the Hon'ble Debt Recovery Tribunal Pune, challenging the measures initiated by the bankers and the Company is hopeful of reviving the reference with BIFR.