(a) whether the Government had decided to revive Braithwaite, Burn & Jessop Construction Company Ltd.;
(b) if so, the details thereof; and
(c) the measures taken by the Government in this regard?
(a) whether the Government had decided to revive Braithwaite, Burn & Jessop Construction Company Ltd.;
(b) if so, the details thereof; and
(c) the measures taken by the Government in this regard?
MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF HEAVY INDUSTRIES AND PUBLIC ENTERPRISES (SHRI SONTOSH MOHAN DEV)
(a): Yes, Sir.
(b)&(c): Government have approved the financial restructuring of the company with the following measures:
(i) Conversion of Government of India loan and interest amounting Rs.13.88 crore into equity;
(ii) Conversion of Government of India loan amounting to Rs.10.00 crore to Zero Rate Debenture (ZRD); and
(iii) Waiver of the interest and penal interest accrued on Government of India loan and due on 31.03.2004 amounting to Rs.30.73 crore.