Cabinet approves transfer of landed assets of HVOCL to (MoHUA)
Dec 4th, 2017 11:27 am | By ThenewsmanofIndia.com | Category: LATEST NEWSTHE NEWSMAN OF INDIA.COM (PSU update)
The Union Cabinet chaired by Prime Minister, Narendra Modi has given its approval for transfer of all land assets owned by Hindustan Vegetable Oils Corporation Ltd (HVOC) to Ministry of Housing and Urban Affairs (MoHUA) or its authorized agency for appropriate utilization/ disposal.
In lieu of the transfer of the land assets of HVOC, complete liabilities of HVOC towards loans taken from the Government including interest would be written off. The Government shall also take care of all contingent liabilities of HVOC that may arise in future due to pending cases in various courts/tribunals/authorities.
The land located in seven cities are lying unutilized for many years. The transfer of the properties to MoHUA would enable use of the land for public purpose. This will facilitate early winding up of HVOC, which is a sick PSU under liquidation.
Government News
- ‘Carbon Capture Utilization and Storage (CCUS)’ NTPC Initiative 02/06/2023
- IREL receives “Excellent” MoU Rating for 2021-22 02/06/2023
- Chairman, DVC & Member Secretary, meet DVC recruited Graduate Trainees Engineer 02/05/2023
- Disclosure February 2023 02/04/2023
- Fueling Growth and Profitability! MOIL 02/03/2023