03 March 2021 11:05 pm

OTS schemes turns boon for PSIDC, Rs. 10.56 crores saved

- Posted on 22 January 2021

 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.

Read more

Punjabupdate is the free media platform established with a view to uphold what the fourth estate stands for without making any tall claims. Our practice so far has been to be non-conformist rather than flowing with the tide. We know this is not the easy path but then it has always been so. It is credibility and independence that are dear to us and epitomise our core values. We will question what is wrong and espouse what we feel is the right cause, at the same time fully conscious that both are relative terms but we will go by the interpretations are rooted in the collective consciousness of the people. At the same time, we will not stake any claim to be moralists as that can the most difficult test to pass and we admit it.
Copyright 2020 © punjabupdate.com