ABCL offers to pay Rs. 9 crore to Prasar Bharati to clear dues

Amitabh Bachchan Corporation Ltd (ABCL) last Wednesday said it has proposed to immediately pay 50 per cent of Doordarshan’s dues totalling Rs. 18 crore to Prasar Bharati.

“We are in a position to pay about Rs. 9 crore immediately while rest of the money would be paid in installments,” ABCL director Amar Singh told PTI. The proposal has been discussed with the Prasar Bharti Chief Executive officer Rajiv Ratan Shah recently, Singh said adding that balance dues would be paid in installments as prescribed by the Prasar Bharati.

“We are awaiting PB board’s response,” he said, adding that the corporation had cleared all the small and medium debts including that to Canara Bank. With regard to ABCL’s dues with the income tax department, Singh said “the matter is pending as it is under dispute and we have already appealed for case... The moment judgement comes, we shall take up the matter with concerned authorities.” Singh also said that the company was looking upward and soon it would be back on the growth path.

ABCL, now known as AB Corp, was referred to the Board for Industrial and Financial Reconstruction (BIFR) as a sick unit following its default in meeting various financial obligations to the investors as well as public. Singh, who was optimistic about the future of ABCL, said the company would concentrate on producing feature films as part of its growth strategy.

PTI

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