Hindustan Aeronautics Limited boss meets Defence minister Nirmala Sitharaman, discusses cash crunch

The company had clarified on Sunday that the orders for 83 light combat aircraft and 15 light combat helicopters were in advanced stages and that HAL’s finances are expected to improve.

Published: 10th January 2019 07:18 AM  |   Last Updated: 10th January 2019 07:18 AM   |  A+A-

Nirmala Sitharaman

Defence Minister Nirmala Sitharaman (File | PTI)

By Express News Service

NEW DELHI: R Madhavan, CMD of the Hindustan Aeronautics Limited (HAL), met Defence Minsiter Nirmala Sitharaman in Parliament on Wednesday in the backdrop of the financial crisis which the public sector aerospace major is facing.

Madhavan was accompanied by senior HAL officials. Also present were Army chief General Bipin Rawat, Air Force chief Air Chief Marshal B S Dhanoa and Navy chief Admiral Sunil Lanba. A HAL source said the cash crunch was among the many issues discussed.

The company had clarified on Sunday that the orders for 83 light combat aircraft and 15 light combat helicopters were in advanced stages and that HAL’s finances are expected to improve. It acknowledged its overdraft of `962 crore to meets its current requirements.

Congress president Rahul Gandhi has been accusing the Narendra Modi government of corruption in the Rafale fighter jet deal with France. He alleged a few days ago that the PM personally ensured that the offset contract with Dassault, the manufacturer of Rafale, went to Anil Ambani’s Reliance Defence instead of HAL.

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