KERALA GIVES IN-PRINCIPLE NOD FOR KELTRON REVIVAL PACKAGE
Article Abstract:
The Kerala government has given its in-principal clearance to the revival package for the Kerala State Electronics Development Corporation Ltd. The public sector company has run up liabilities of about Rs200 crore. The revival package involves the company's creditors, comprising of a consortium of banks led by the State Bank of India and financial institutions, agreeing to reduce debt burden owed by the company from Rs200 crore to Rs120 crore. This amount is to be repaid over a period of 7 years, with the government paying Rs70 crore over the first 4 years and the company repaying the balance of Rs50 crore out of its profits in the last three years. The company is also likely to be restructured into 4 major business centres - the Keltron Equipment Complex at Karakulam, a communication division at Kulathur, Keltron Controls at Aroor and a central marketing division. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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KELTRON ORDERS BULGE, BUT REVIVAL PLAN PUT ON HOLD
Article Abstract:
The Kerala State Electronics Development Corporation Ltd (Keltron) has orders valued at Rs70 crore at present. It is waiting for the government to approve its revival package and prevent it from coming under the purview of the Board for Industrial and Financial Reconstruction. Keltron has accumulated liabilities of Rs185.40 crore as of September 30, 1997. This has been reduced to Rs116.45 crore after the state government negotiated with banks and financial institutions. The company is to repay the amount over seven years. The revival package proposes that the government take over all liabilities and allow the company to start afresh. (khr)
Comment:
Currently has orders valued at Rs70 crore & is waiting for government to approve revival package
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NO `25th BIRTHDAY' GIFT FOR KELTRON
Article Abstract:
Kerala State Electronics Development Corporation Ltd (Keltron), the ailing company, has celebrated its silver jubileee on August 30, 1998. Its liabilities at present are at Rs195 crore. Kerala government after negotiating with Keltron's creditors has brought down the liabilities to Rs120 crore. The company has been allowed to repay the amount over a period of seven years. Its annual debt burden is Rs28 crore. On the event of its silver jubilee on August 30, 1998, it has chalked out a revival plan for the next one year. For 1997-98, Keltron has posted a turnover of Rs122 crore and this performance prevented Keltron from coming under BIFR purview. (gs)
Comment:
Kerala government after negotiating w/ company's creditors has brought down the liabilities to Rs120 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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