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Deepak Fertilizers & Petrochemicals Corp to receive pending subsidy of Rs 310.52 cr

Capital Market 

From Department of Fertilisers (DOF), Ministry of Chemicals and Fertilisers, of India

Deepak Fertilizers & Petrochemicals Corp has received an intimation that Department of Fertilisers (DOF), Ministry of Chemicals and Fertilisers, of would release the balance withheld amount of Rs. 310.52 crores on providing a Bank Guarantee of equivalent amount.

In June 2016, the Company had intimated about withholding of subsidy by Department of Fertilisers (DOF), Ministry of Chemicals and Fertilisers, of wherein an amount of Rs.310.52 crore was withheld pending decision on recovery of alleged undue gain on account of supply of 'cheap' gas

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 20:30 IST
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