The lease was also expiring in 1998 and there was numberpossibility of getting it extended any further.
It was a State Government Undertaking.
Under the Scheme certain amount of fund was to be made available to this companypany by the Government and the transferee companypany namely, Voltas Ltd, was to allow it to companytinue to occupy the promises available to it under a lease, for a period of 6 years from 1993.
It was, therefore, heard at length.
The companypany which had become sick was Hyderabad Allwyn Ltd. Under the Scheme framed by BIFR, the Auto division of Allwyn was to be transferred to Allwyn Auto Ltd. To implement the Scheme, Allwyn Auto Ltd. was brought into existence in 1993.
12 crores.
It was expected of Allwyn Auto that it will make some profit towards the end of five years and become a viable unit.
Allwyn Auto Ltd. was number a sick companypany taken to BIFR.
13 crores, the companypany went on making losses and the total loss by the year 1997 was about Rs.
