Bogged down by liabilities, Kerala Automobiles Limited to receive a leg-up from Kerala Government
The Hindu
Replying to a submission moved by K. Ansalan, Industries Minister P. Rajeeve says the State Government has drawn up plans to transform KAL into a major manufacturer of electric three-wheelers
Industries Minister P. Rajeeve told the Assembly on Thursday that the Government was extending all possible assistance to the public sector Kerala Automobiles Limited (KAL) to pull the stricken company out of the red and put it back on the rails.
Replying to a submission moved by K. Ansalan, Mr. Rajeeve said the Government had drawn up plans to transform KAL into a major manufacturer of electric three-wheelers. Outlining the details of the crisis caused by the accumulation of financial liabilities, he said the company had run up huge arrears on the EPF and gratuity payment to employees for years.
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