An article in economic times mentions the following "A fire at pharmaceutical major Wockhardt’s Rs 300-crore Ankleshwar facility damaged one of its six manufacturing plants. It will take six months to recommission the unit, a company spokesman said.
The incident adds to the woes of a debt-laden Wockhardt, which had defaulted on payment of its overseas convertible bonds last year, and was forced to accept a corporate debt restructuring package that included sale of some company assets". Read the full article at this link.
While the cause is being investigated, it must be remembered that when companies go under loss, it requires a great effort to maintain safety systems.
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