IDEAL JAWA OFFERS FRESH PROPOSAL
Article Abstract:
The revival plan of Ideal Jawa (India) Ltd of Mysore, a sick company, has been revised by the promoters of the company. The promoters plan to infuse Rs6.98 crore into Ideal Jawa (India) Ltd, a maker of engines and components, in the first 2 years of the rehabilitation period. The rehabilitation programme needs Rs11.04 crore. The money will be raised through sale of land (Rs3.35 crore), sale of equipment (Rs60 lakh) and internal accruals (Rs11 lakh). The revival scheme also involves a capital expenditure of Rs2.10 crore in 2 years. The capital expenditure involves re-conditioning, modernising and setting up of balancing equipment in the plant. The new proposal involves one-time settlement of dues of the Indian Overseas Bank (IOB) with the repayment of the principal of Rs14 crore. Ideal Jawa (India) Ltd will pay 50 percent of Rs50.76 lakh, which would be simple interest due as on March 31, 1999. The Industrial Credit and Investment Corporation of India Ltd will be conducting a joint meeting of the concerned agencies on January 11, 1999, to consider the new revival proposal. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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RBI TO LINK ALL ITS OFFICES WITH V-SATS BY DECEMBER '99
Article Abstract:
The Reserve Bank of India (RBI) proposes to connect all its offices through a very small aperture terminals (V-Sats) network by the end of December 1999. The network will help RBI to transfer data and funds faster. The network will connect around 500 selected commercial bank branches and also RBI's offices throughout India. RBI plans to offer V-Sat connectivity to 5,000 more commercial bank branches by the end of the year 2000. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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