(a) whether it is a fact that a proposal has been finalized at the Ministry level to reorganise the IDPL;
(b) if so, the details thereof; and
(c) if not, the reasons thereof?
(a) whether it is a fact that a proposal has been finalized at the Ministry level to reorganise the IDPL;
(b) if so, the details thereof; and
(c) if not, the reasons thereof?
THE MINISTER OF STATE FOR CHEMICALS & FERTILIZERS (DR. CHHATTRA PAL SINGH)
(a), (b) & (c) : A reference was made to BIFR under the provisions of Sick Industrial (Special) Provision Act 1985
and IDPL was declared as sick in August, 1992. Thereafter, BIFR had attempted revival packages for the company. The
Government on its part had communicated to BIFR in November, 2001 that the Government intended to provide the following
concessions/facilities for cleaning up of the Balance Sheet of IDPL to facilitate it pricatization:-
(a) Conversion of Government loan into equity; (b) Waiver of interest/penal interest and guarantee fee by the Government of India; (c) Payment of outstanding statutory dues and funding of VRS.