|
| Exchange Disseminated Time 11/11/2016 14:34:50 | HMT Ltd has informed BSE that the Meeting of the Board of Directors of the Company will be held on November 17, 2016, to consider and approve the Statement of Standalone Unaudited Financial Results of the Company for the Quarter/Half Year ended September 30, 2016.
Further, the Department of Heavy Industry vide their letter dated November 04, 2016, have conveyed that the Cabinet in its meeting held on October 27, 2016 have approved restructuring of Balance Sheet of HMTL by reduction of paid-up capital to the extent of accumulated losses of Tractor Division amounting Rs. 848.49 Crore against Govt. of India paid up equity shareholding in the Company of Rs. 1204.09 Crore and write-off of Govt. loans provided to HMT Ltd. (Rs. 72.02 Cr) along with accrued interest (Rs. 18.56 Cr) to be frozen as on March 31, 2016, with no further liability of interest. As such the Agenda Item is also placed before the Board for their Approval. |
|
|