Corporate News 13-Jun-16
Deepak Fertilisers receives intimate of release of subsidy
From Department of Fertilizers, GoI
Deepak Fertilisers & Petrochemicals Corpn announced that the Department of Fertilizers (DoF), Ministry of Chemicals and Fertilizers, has been withholding subsidy claims due to the Company in accordance with applicable Nutrient Based Subsidy [NBS] Scheme of the Government of India, since June, 2014 amounting to Rs. 795 crore as on 31 March2016. The Company had since challenged the said withholding before Hon'ble Bombay High Court and the Department has now informed commencing the release of all subsidy arrears except an amount of Rs. 310.52 crore in the interim. This part withholding is already under Hon'ble Court's purview for final award.
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