chapter viii wool & wollen textiles industry - Ministry of Textiles

ministry of textiles
circulated by the Ministry of Textiles
(MOT) in view of comment raised by the
Ministry of Finance. MOT decided to place
the updated revival scheme to BRPSE
for its recommendation. Accordingly,
BJEL resubmitted the revised revival
proposal with a total cost of Scheme of
Rs.137.88 crore to be financed mainly
from sale of surplus land of the BJEL and
interest free GOI loan. The entire GOI
loan and holding company loan together
with accrued interest at a normal rate
has been proposed to be refunded
from sale of surplus land of BJEL. The
proposals also include modernization
& renovation of its existing plant with
capital expenditure including working
capital of Rs. 30.57 crore. The above
proposal was forwarded to BIFR. BIFR
accepted the revised DRS of BJEL with
in principal approval from Ministry of
Textiles to provide start up expense
amounting to Rs 21.21 crore as bridge
loan and directed to circulate to the
stake holder on 3.11.2011.
Physical and Financial Performance
The production activity of the company
has been suspended for the last 8 years
and the company has given VRS to all its
workmen and staff in the year 2003 and
2004. Restart of production is expected
after the sanction of revival scheme from
BIFR .
The Financial performance for the year
2010-11 as compared to 2009-10 and
estimated for the year 2011-12 is given at
table 12.11.
COTTON CORPORATION OF INDIA
LTD., (CCI), MUMBAI
The Cotton Corporation of India Ltd., (CCI)
was set up in 1970 with the objective of
acting as the canalizing agency for import
of cotton and undertaking purchase of raw
cotton for giving necessary price support
to enterprising cultivators growing new
varieties of cotton developed as substitute
for imported long and extra-long staple
cottons as also for procuring raw cotton
Table 12.11
(Figures in Lakhs)
Physical 2009-10 2010-11 2011-12
(Estimated)
Production ---- ---- ----
FINANCIAL RESULT (Rs.in Lac) (Rs.in Lac) (Rs.in Lac)
Rent & Other Income 7.80 8.38 0.43
Total 7.80 8.38 0.43
Salary & Wages 13.12 13.02 7.23
VRS Expenditure ---- ---- 267.69
Administrative &other Overheads 43.46 39.05 52.83
Interest on GOI &NJMC loan 634.49 726.46 775.00
Depreciation 6.49 1.26 1.20
Total 697.56 779.79 1103.95
Net Loss 689.76 771.41 1103.52
Cash Loss 683.27 770.15 1102.32
Cumulative Net Loss 7862.35 8633.76 9737.28
182