Cabinet approves waiver of interest of Hindustan Organic Chemicals Limited

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..... Cabinet approves waiver of interest of Hindustan Organic Chemicals Limited - News and Press Release Dated:- 20-5-2020 - News - The Cabinet Committee on Economic Affairs, chaired by Prime Minister Sh .....

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..... ri Narendra Modi, has given its ex-post facto approval for waiver of interest of ₹ 7.59 crore on Government of India loans of Hindustan Organic Chemicals Limited (HOCL), as on 31st March, 2005 i .....

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..... n addition to the Waiver of penal interest and interest on interest up to 31st March, 2005 that was earlier approved by the CCEA in March, 2006 under the rehabilitation package for HOCL. As this .....

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..... is almost 10 years old case, the interest amount of ₹ 7.59 crore has already been written off in the books of accounts of the Government and HOCL and the interest amount involved is not substant .....

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..... ial. It would be expedient at this stage to regularise the waiver of interest of ₹ 7.59 crore on GoI loans as on 31st March, 2005. Ex-post facto approval will also enable HOCL to settle the pe .....

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..... nding CAG audit observation in the matter. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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