Gainful Nursing

Gainful Nursing Hansavivek SHREE SYNTHETICS proposes to amalgamate Bengal Paper Mill Company (BPM), a sick unit with an installed capacity of 45,000 tonnes per annum and lying closed for some time past, with it. A rehabilitation- cum-modernisation scheme involving a capital expenditure of Rs 14 crore is under consideration of financial institutions and banks. On its revival, BPM expects to get certain financial concessions and monetary benefits from the Central and state governments and banks. Meanwhile, Shree Synthetics will be required to contribute 20 per cent to the cost of the unit's scheme of revival and will also have to provide guarantees to the financial institutions and banks for their financial assistance to BPM. The company expects to get benefits of carried forward losses of BPM aggregating about Rs 11.5 crore under Section 72 A of Income- tax Act.