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HAL chairman likely to brief Defence Minister on financial issues on Wednesday

ANI  |  New Delhi [India] 

Amid the ongoing row over orders given to (HAL), its R is expected to meet Defence on Wednesday at her South Block office. During the meeting, is likely to brief her about the financial issues related to HAL.

"The HAL is likely to meet the Defence along with other (Finance) Ananth Krishnan tomorrow (Wednesday) and brief her about the financial issues his organisation is facing," the officials said on Tuesday.

The financial issues of the HAL, which had to borrow about Rs 962 crore for paying salaries to employees, were also discussed in the board meeting held on Tuesday in Bengaluru.

The board meeting of HAL took place at a time when attacked Sitharaman for "lying" in the Parliament about placing orders of Rs 1 lakh crore to the PSU, which has been refuted by her.

In the wake of the war of words between Rahul and Sitharaman, the HAL had clarified that it had taken an overdraft of Rs 962 crore but with orders for 83 light combat aircraft, 15 light combat helicopters and other products, and its finances are expected to improve.

HAL issued the clarification after quoting its suggested that the firm was forced to borrow money to pay salaries to its employees.

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

First Published: Tue, January 08 2019. 22:24 IST
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