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Cabinet approves implementation of CCEA decision on closure of Tungabhadra Steel Products Limited

Capital Market 

The chaired by Shri has approved the implementation of the CCEA decision on closure of (TSPL) regarding disposal of its immovable assets. It also provides for getting the name of the company struck off from the of Companies after setting balance liabilities of TSPL.

It may be recalled that CCEA had approved the closure of the company in December, 2015 after discharging all dues to employees/workers and creditors.

Cabinet approved transfer of MMH Plants to of along with 20,000 square meter land. Cabinet also approved selling 82.37 acres of land of the Company at Hospet to for use of the State Housing Board. The land is being sold to Karnataka at the rate of Rs. 66 lakh per acre offered by them.

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First Published: Wed, January 10 2018. 14:43 IST