(a) whether the Government has decided to sell the land of NTC Finlay Mills in Mumbai;
(b) if so, the details thereof alongwith the estimated amount to be collected through this
sale;
(c) whether there was any proposal to shift the Finlay Mills to Nagpur; and
(d) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF TEXTILES (SMT. PANABAAKA LAKSHMI)
(a): The Revival Scheme approved by the Board for Industrial and Financial Reconstruction
(BIFR) is self-financing, and funds are generated through sale of surplus land and assets
of closed mills. Accordingly, an attempt was made by National Textile Corporation (NTC)
to sell the land of Finlay Mills, Mumbai. But no offer at optimum price was received, and
the land has not been sold yet. Decision as to whether and when to sell the land of Finlay
Mills will be taken by NTC, depending upon requirement of funds for revival, and in
accordance with re-assessment of valuation and reserve price of land being fixed by NTC.
However, presently, there is no proposal to sell the land of Finlay Mills in Mumbai.
(b): Can not be indicated presently in view of (a) above.
(c): No, Madam.
(d): Does not arise in view of (c) above.