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Cabinet approves waiver of interest of Hindustan Organic Chemicals Limited

As this is almost 10 years old case, the interest amount of Rs.7.59 crore has already been written off in the books of accounts of the Government and HOCL and the interest amount involved is not substantial. 

It would be expedient at this stage to regularise the waiver of interest of Rs.7.59 crore on GoI loans as on 31st March, 2005. 

Ex-post facto approval will also enable HOCL to settle the pending CAG audit observation in the matter.

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