(a) whether it is a fact that revival package for Praga Tools Ltd., Telangana, has been approved and IDPL is going to be closed very soon;
(b) if so, the details of the revival package of Praga Tools Ltd. and the reasons for closure of IDPL; and
(c) the present status of revival package of Praga Tools and the time by which it is likely to start production?
MINISTER OF STATE IN THE MINISTRY OF HEAVY INDUSTRIES AND PUBLIC ENTERPRISES (SHRI BABUL SUPRIYO)
(a) & (b): No revival package has been approved for Praga Tools Limited. So far as Indian Drugs and Pharmaceuticals Ltd., (IDPL) is concerned; it is a public sector undertaking under the D/o Pharmaceuticals. The department of Pharmaceuticals has informed Indian Drugs and Pharmaceuticals Ltd. (IDPL) was declared sick and formally referred to Board for Industrial and Financial Reconstruction (BIFR) in 1992. The earlier revival /rehabilitation packages of IDPL have failed to achieve the desired results. In view of the same, the Government has decided to close the Company and the Cabinet in its meeting held on 28.12.2016, has decided for the closure of IDPL after meeting liabilities from the sale of its surplus land to Government agencies.
(c): There is no revival package for Praga Tools Limited.
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