Instructions to the Management of Instrumentation Limited

Owing to sickness and time & cost overrun on account of partial implementation of Modified Revival Scheme (MRS-10) approved by BIFR, M/s. Instrumentation Limited (IL), Kota, has been facing critical financial crisis and acute shortage of funds. Some major orders also got cancelled or are under arbitration because of which Company’s working capital has been blocked. Giving this information in written reply to a question in the Lok Sabha today, Shri Praful Patel, Minister of Heavy Industries and Public Enterprises, said that in view of these, release of payment to some suppliers have been delayed.

He said that though the goods were accepted from the Small Scale Industrial (SSI), payment for the same could not be made to some SSIs for the reasons mentioned in above. The Government has instructed the management of Instrumentation Limited to settle outstanding dues expeditiously.

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KKP