Cabinet approves the takeover of HSCL by NBCC

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the takeover of Hindustan Steel Works Construction Limited (HSCL) by National Buildings Construction Corporation Ltd (NBCC) for financial restructuring of HSCLThe decision will benefit in economies of scale for NBCC and would assist in better manpower utilization.

The main feature of HSCL financial restructuring includes, – the existing paid up equity capital of the HSCL is 117.1 crore rupees but under the proposal of Union government, the equity and paid up capital of HSCL will become 34.3 crore rupees. However, the takeover of HSCL by NBCC will infuse fund of 35.7 crore rupees as equity into HSCL. Than, 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 49 %.

So let’s discuss some questions related to this post :
1. Name the company which has got the approval to take over the HSCL ?
2. Expand the term HSCL and NBCC .

Courtesy : Business Standard


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