The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval for restructuring of balance sheet of Scooters India Limited, Lucknow (SIL) by way of reduction of equity of Rs. 85.21 crore in the share capital of SIL held by Government of India against accumulated losses.
The reduction would be deemed to have taken effect as on 31.03.2013. The Committee's other step in restructuring of balance sheet is freezing the interest on the Non-Plan loan of Rs. 1.89 crore released to SIL during 2012-13 from the date of its release to the company and conversion into equity of the outstanding principal amount of Rs. 1.89 crore.
Readers' Choice
FIR lodged against ex-Rera chief Baldi on former CS Gupta’s complaint
L K Atheeq appointed Financial Advisor to Karnataka CM; T G Nath Add CS
Former Himachal Pradesh CS Appointed Chairperson of PSERC
K K Pant gets additional charge of Himachal Chief Secretary
Five names under consideration; K K Pant ahead in the race for Himachal CS
Cabinet approves restructuring of balance sheet of SIL
By IndianMandarins - 2018-05-24 11:18:01
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval for restructuring of balance sheet of Scooters India Limited, Lucknow (SIL) by way of reduction of equity of Rs. 85.21 crore in the share capital of SIL held by Government of India against accumulated losses.
The reduction would be deemed to have taken effect as on 31.03.2013. The Committee's other step in restructuring of balance sheet is freezing the interest on the Non-Plan loan of Rs. 1.89 crore released to SIL during 2012-13 from the date of its release to the company and conversion into equity of the outstanding principal amount of Rs. 1.89 crore.
