Land Management Agency to dispose assets, says Centre
The Cabinet on Wednesday approved the closure of National Jute Manufactures Corporation and its subsidiary Birds Jute & Exports Ltd.
“Disposal of fixed assets as well as current assets will be in accordance with the guidelines of DPE dated June 14, 2018 and the proceeds from the sale of assets, after meeting the liabilities, will be deposited in Consolidated Fund,” the Centre said. “In accordance with the DPE guidelines dated June 14, 2018, a Land Management Agency (LMA) will be engaged for disposal of assets,” it added. “The LMA will be directed to carry out a thorough verification of the assets before undertaking their disposal in accordance with the DPE guidelines.” The Centre said that the benefit of this decision would be that the exchequer would not be burdened with the expenditure of keeping the two PSUs running.
Source : https://www.thehindu.com/todays-paper/tp-business/govt-clears-closure-of-2-jute-psus/article25185520.ece
