Tungabhadra Steel Products Limited

Cabinet approves implementation of CCEA decision on closure of Tungabhadra Steel Products Limited

Question: In which year Tungabhadra Steel Products Limited was established?
(a) Year 1958
(b) Years 1960
(c) Years 1967
(d) Years 1982
Answer: (b)
Related Facts:

  • On January 10th, 2018, the Union Cabinet gave approval for the implementation of the decision of the Cabinet Committee on Economic Affairs (CCEA) in relation to the closure of Tungabhadra Steel Products Limited company for the disposal its of immovable assets.
  • Along with this, after the adjustment of the remaining liabilities of Tungabhadra Steel Products Limited (TSP), it was also approved to remove the name of the company from the list of Registrar of Companies.
  • It is known that CCEA had approved the closure of this company in December 2015 after the settlement of all outstanding dues of employees / workers and creditors.
  • In addition, the Cabinet had approved the transfer of MMH plants to the Karnataka Government with 20,000 square meters of land.
  • Cabinet also approved selling 82.37 acres of land of the Company at Hospet to Karnataka Government for use of the Karnataka State Housing Board.
  • The land is being sold to Karnataka Government at the rate of Rs. 66 lakh per acre offered by them.
  • Tungabhadra Steel Products Limited was established in the year 1960.

Reference:
http://www.pib.gov.in/PressReleseDetail.aspx?PRID=1516120
http://www.tsptbdam.kar.nic.in/company.htm