Cabinet backs CCEA's choice on conclusion of Tungabhadra Steel

New Delhi, Jan 10 The Union Cabinet, led on Wednesday, endorsed the execution of the Cabinet Committee on Economic Affairs' (CCEA) choice on the conclusion of Tungabhadra Steel Products Limited (TSPL) with respect to transfer of its enduring resources.

Headed by Prime Minister Narendra Modi, it additionally accommodated getting the name of the company struck off from the Registrar of Companies subsequent to setting balance liabilities of TSPL.

The CCEA had affirmed the conclusion of the organization in December 2015 in the wake of releasing all contribution to representatives/laborers and loan bosses. The Cabinet at that point endorsed the exchange of metallurgical and material taking care of (MMH) plants to the Government of Karnataka, alongside 20,000 square meter arrive.

The Cabinet also affirmed the offer of 82.37 sections of land of place where there is the organization at Hospet to the Karnataka Government for use by the Karnataka State Housing Board. The land is being sold to the state government at the rate of Rs. 66 lakh for each section of land offered by them.