New Delhi [India], Jan 10 ( ANI ): The Union Cabinet, chaired on Wednesday, approved the implementation of the Cabinet Committee on Economic Affairs' (CCEA) decision on the closure of Tungabhadra Steel Products Limited (TSPL) regarding disposal of its immovable assets.
Headed by Prime Minister Narendra Modi, it also provided for getting the name of the company struck off from the Registrar of Companies after setting balance liabilities of TSPL.
is committed to protect and preserve the environment through its technology and processes.
Any change in the rating outlook on Sterlite Industries will lead to a corresponding change in the rating outlook on TSPL
K Ranganath, chairman and managing director, KIOCL, said, The department of heavy industries, government of India, has approached us for acquisition of TSPL
which has a liability of Rs 245 crore.
The outlook revision reflects CRISIL's belief that TSPL
will generate adequate cash accruals over the medium term to meet its debt repayment obligations; its debt was re-scheduled in October 2009.
The product further can form "gel" structure when combined with ingredients capable of forming H-bonding with TSPL
. These ingredients include silicone/acrylate film-formers such as KP series offered by Shin-Etsu, amino gums and fluids, emulsifiers and self-emulsifying elastomers.