OTS schemes turns boon for PSIDC, Rs. 10.56 crores saved
Chandigarh, January 22: To review the various government schemes, the Board of Directors of PSIDC today held deliberation here today.
The meeting which was held under the Chairmanship of Krishan Kumar Bawa, was also attended by Senior Vice- Chairman Braham Shankar Sharma, Vice-Chairman Vazeer Singh Lally, Managing Director Sibin C, Directors Shivender Uppal, Rajesh Gharu, Balwinder Singh Jandu, Special Invitees Ashuneet Kaur, Monika Sareen, Accountant-cum-Legal Advisor S.K. Ahuja and Company Secretary Rajni Jindal.
During the meeting Mr. Bawa said that PSIDC has introduced One Time Settlement (OTS) Scheme and Rs.17.56 crore paid to Bond holders in FY 2020-21m. He said that with this effort, the corporation was able to save Rs.10.67 crore of interest.
Elaborating more, the Chairman informed that the Corporation has also successfully recovered an amount of Rs. 41.95 crore through Loan/Equity and disinvestment of shares of PACL. Besides this, the Corporation has also received a grant of Rs.17 crore from the Punjab Government during 2020-21.