December 2016 Current Affairs

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

October 2016 Current Affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current Affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current Affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS

Union Cabinet approves takeover of Hindustan Steel Works Construction Limited by NBCC

Union Cabinet approves takeover of Hindustan Steel Works Construction Limited by NBCC
27 May 2016 Current Affairs: The Union Cabinet chaired by the Prime Minister Narendra Modi has approved for financial restructuring of Hindustan Steel Works Construction Limited (HSCL) on 25 May 2016. It also approved its takeover by National Buildings Construction Corporation Limited (NBCC) to takeover HSCL.

The decision will benefit in economies of scale for NBCC and would assist in better manpower utilization. NBCC and HSCL will benefit from each other’s resources and expertise. HSCL will be able to fulfill its commitments of execution of projects and the orders.

Features in financial restructuring of HSCL : The existing paid up equity capital of the HSCL is 117.1 crore rupees.Under the proposal, Uni0on Government non-plan loan and plan loan along with accumulated interest thereon and outstanding guarantee fee worth 1502.2 crore rupees. It will be converted into equity and equity capital of the company will be raised to that extent.The paid up equity capital of the company will become 1619.3 crore. Against this as on 31 March 2015, the accumulated losses of 1585 crore rupees will set off.After writing off of the accumulated losses, the equity and paid up capital of HSCL will become 34.3 crore rupees.

Takeover of HSCL by NBCC : NBCC will infuse funds of 35.7 crore rupees as equity into HSCL. HSCL will become subsidiary of NBCC with NBCC holding 51 percent equity holding.The shareholding of Government of India in HSCL will be reduced to 49percent.The equity and paid up capital of HSCL will become 70 crore rupees.HSCL was established in 1964 for construction of modern integrated steel plants.

It diversified into other civil infrastructure construction projects over the years.HSCL started incurring losses since 1978-79 mainly due to absorption of large workforce of several PSUs and private companies increasing the workforce from 4100 in 1970 to 26537 in 1979.The revival package for HSCL approved by Union Government in 1999 and further attempts for financial restructuring the company were not successful.

 


December 2016 Current affairs

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




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2016 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.