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Cabinet approves dissolution of Central Inland Water Transport Corporation Limited

Cabinet approves dissolution of Central Inland Water Transport Corporation Limited
31 August 2016 Current Affairs: The Union Cabinet has given its approval to proposal for dissolution of Central Inland Water Transport Corporation Limited (CIWTC). CIWTC was incorporated in February 1967 as Public Sector Undertaking under the Companies Act 1956 by the Central Government. It was under the administrative control of Ministry of Shipping (MOS). 

It had taken over the assets and liabilities of the erstwhile River Steam Navigation Company Limited (RSNCL) under a scheme approved by the Calcutta High Court.

Since its inception CIWTC was incurring losses due to inherent limitation and infrastructure bottle necks and never could become viable company. Central Government is closing it in line with its decision to revitalize sick CPSUs wherever possible or to wind up irretrievable cases.

 The dissolution of the CIWTC would be initiated after disposal of movable and immovable assets. This would free up the assets for better utilization and for the benefit of the people. A number of assets have been taken up by Inland Waterways Authority of India to provide services on National Waterway 4 on Brahmputra River.


March 2017 Current affairs
24 MAR
NEWS
23 MAR
NEWS
22 MAR
NEWS
21 MAR
NEWS
20 MAR
NEWS
18 MAR
NEWS

February 2017 Current affairs
28 FEB
NEWS
27 FEB
NEWS
25 FEB
NEWS
24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS



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