Question: Recently the Union Cabinet has given its approval for financial restructuring of Hindustan Steel Works Construction Limited (HSCL). With this cabinet also approved its takeover, by which of the following Company?
(a) Rashtriya Ispat Nigam Limited
(b) National Buildings Construction Corporation Limited
(c) National Mineral Development Corporation Limited
(d) Hindustan Copper Limited
Ans:(b)
Related facts:
- On 25 May 2016 the Union Cabinet has given its approval for financial restructuring of Hindustan Steel Works Construction Limited (HSCL).
- It has also approved its takeover by National Buildings Construction Corporation Limited (NBCC).
- National Buildings Construction Corporation Limited (NBCC) a Central Public Sector Enterprise under the Ministry of Urban Development. It was established in the year 1960.
- Hindustan Steel Works Construction Limited (HSCL) was established in 1964 as a construction organization under the Ministry of Steel, Govt of India.
- HSCL will become subsidiary of NBCC with NBCC holding 51% equity holding.
- The shareholding of Government of India in HSCL will be reduced to 49%. The equity and paid up capital of HSCL will become Rs.70 crore.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=145629