(a) whether the Government proposes to revive the Heavy Engineering Corporation Ltd., Ranchi;
(b) if so, the details thereof; and
(c) the total liabilities of the corporation as on date?
(a) whether the Government proposes to revive the Heavy Engineering Corporation Ltd., Ranchi;
(b) if so, the details thereof; and
(c) the total liabilities of the corporation as on date?
MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF HEAVY INDUSTRIES AND PUBLIC ENTERPRISES (SHRI SONTOSH MOHAN DEV)
(a) & (b): HEC was before the Board for Industrial and Financial Reconstruction (BIFR) since 1992. BIFR on 06.7.2004 has recommended winding up of HEC under Sick Industrial Companies Act (SICA) An appeal against the BIFR`s winding up orders have been filed by Government of India and HEC before Appellate Authority for Industrial and Financial Reconstruction (AAIFR). A Writ Petition against the winding up order have also been filed by HEC before the High Court, Ranchi. The decision of AAIFR and the Hon`ble High Court is awaited.
(c) Total liabilities of the corporation were Rs.2371.96 crore (Pre-audited) as on 31.3.2005, which have increased to Rs.2448.11 crore as on 30.6.2005 (Pre-audited).