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Cabinet approves financial restructuring of ALIMCO

Cabinet approves financial restructuring of ALIMCO

Jun 25, 2015, at 02:32 am

New Delhi, June 24 (IBNS) The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for conversion of interest of Rs.39.53 crore accrued on the loan of Rs.21.82 crore provided to Artificial Limbs Manufacturing Corporation of India (ALIMCO) in Kanpur during the years 1977-78 to 2001-02 and penal interest of Rs. 12.61 crore on this amount as on 31.03.2015 that is a total of Rs.52.14 crore into equity.

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Cabinet approves financial restructuring of ALIMCO Wed, Jun 24 2015