The Indian Government on 6 January 2011 agreed to provide budgetary support of Rs 70.41 crore for the 10 loss-making and sick Central public sector enterprises (CPSEs) towards liquidation of statutory dues as well as salary and wages to employees. The funds were cleared by Cabinet Committee on Economic Affairs (CCEA). The funds cleared by the Cabinet Committee on Economic Affairs (CCEA) would be utilised for liquidation of statutory dues from April-June, 2010 of the CPSEs under the Heavy Industry Department.
The maximum statutory dues were concerning Hindustan Cables of Rs 24.37 crore. Hindusthan Cables were followed by HMT (watches) Ltd which had dues that amounted to Rs 15.92 crore, Scooters India (Rs 13.15 crore), HMT Ltd of Rs 5.67 crore, Nepa (Rs 5.59 crore), HMT Bearings (Rs 1.91 crore) and Nagaland Pulp and Paper Co (Rs 1.59 crore). Other CPSEs include HMT (CW) Ltd (Rs 0.86 crore), Triveni Structurals (Rs 0.72 crore) and Tunghabadra Steel Products Rs 0.63 crore).
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