e:
(a) whether Bihar based and Assam based units of Ashoka Paper Mills were under the same company viz Ashoka Paper Mill Ltd. till 1990;
(b) whether the said company was referred to the BIFR by the Union Government under the Sick Industries Act in 1988; and
(c) the current status of these units as on date?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI E.V.K.S. ELANGOVAN)
(a) : Yes, Sir.
(b) : No, Sir.
(c) : That, a financial Package was announced by the Government of India for rendering assistance to the Government of Assam in their efforts to revive the Ashok Paper Mill (Assam), in pursuance of the Assam Accord signed in the year 1985. The Package envisaged an outright grant of Rs. 67.08 crores for the purpose. It is not an open -ended package and specifies the items for which and the organizations to whom the funds/amounts under the package would be payable, The table below gives the amount earmarked separately for each specific item of activities/ financial institutions and released so far :-
(Rupees in Crores)
Items Provision Released Balance
I Assam Unit`s share of Principal payable to the institutions and Banks 26.30 26.30 Nil II Promoters contribution and 20% of the capital expenditure 4.60 4.60 Nil III Margin money for working capital 2.30 2.30 Nil IV Cash losses in first two years of operation 10.04 5.04 5.00 V Outstanding statutory liabilities on account of Wages etc. 8.39 8.39 NIL VI Outstanding interest liabilities (from 1.7.86 to 30.6.89) on institutional loans and working capital loans. 12.12 12.12 Nil
VII Amount due to Railways relating to Jogighopa Unit 0.07 0.07 Nil VIII Security deposit inclusive of interest and income tax 3.26 3.26 Nil
Total :- 67.08 62.08 5.00