CLOSURE OF HINDUSTAN PHOTO FILMS LIMITED
BIFR has issued winding
up order of Hindustan Photo Films on 30.01.2003.
Government of India
and the management of Hindustan Photo Films have filed an appeal
in the AAIFR against the order of BIFR. The Cabinet has given
the Ministry six months time for location of a Joint Venture partner
in Hindustan Photo Films. Till such time the Joint Venture is
formed, a decision has been taken to extend budgetary support
of Rs. 4.65 crore for payment of salary/wages, Rs. 4.13 crore
for clearing statutory dues and Rs. 12 crore towards working capital
to Hindustan Photo Films.
This information
was given in the Lok Sabha today by the Minister of Heavy Industries
and Public Enterprises Shri Balasaheb Vikhe patil in a written
reply to a question by Shri Y.V. Rao.
