Cabinet nod to restart Nepa Ltd

  • 13/02/2012

  • Pioneer (New Delhi)

The State Cabinet decided to restart Nepa Limited, Nepanagar, Burhanpur. It has been decided that the outstanding dues of Rs 28.84 crore payable by the company to various departments/institutions should be converted into Madhya Pradesh Government’s share in the company’s authorised share capital and other outstanding dues/interest amounting to Rs 37.39 crore against the company should be waived. A recommendation will be made to the Union Government for waiving due net present value amount of Rs 22 crore payable to the Forest Department. Notably, the NEPA Limited is a Union Government undertaking in which Madhya Pradesh Government has 1.60 per cent share. The PSU manufactures newsprint. After the company becoming sick, its case was presented before Board for Industrial and Financial Reconstitution in 1998. Company’s rehabilitation plan is under consideration of the Union Ministry for Heavy Industries and Public Enterprises. Appeal had been made by the company to convert the company’s total outstanding due of Rs 66.92 crore, including interest to Madhya Pradesh Government into State Government’s share capital/waiver of interest. The Cabinet also decided to sanction dearness allowance to the employees working on deputation in corporations and boards and receiving fourth and fifth pay scales, with effect from January 1, 2012. The dearness allowance will be given to them at the rate of 56 per cent of 77 per cent of the basic pay respectively (in case of merger of 50 per cent of dearness allowance in salary). Besides, dearness allowance linked to price index will be sanctioned for these employees from the same date whenever dearness allowance for government servants is increased. It was also decided in the cabinet that the case for a re-appointment of a retired person on contract basis after expiry of his earlier contractual appointment will not be presented against before the screening committee. Permission can be granted to the departments having departmental houses to keep the house. The Cabinet decided to transfer 55 hectare out of 172.411 hectare non-forest revenue land at village Bailwara in Bakswaha tahsil of Chhatarpur district to the Forest Department in lieu of 149.870 hectare forest land allotted to Messrs Jaiprakash Power Ventures Limited at villages Khamriya, Payasiyan, Khamriya Tiriyan and Mohalla Jamaudi in Satna range.