Kochi: The Cochin International Airport Ltd (CIAL) has repaid outstanding dues totalling Rs 100 crore in cash and shares to the Housing and Urban Development Corporation Ltd (HUDCO), as per the recent out of the court settlement reached with the central agency.
“The company withdrew the deposit with the Debt Recovery Tribunal (DRT) and the dues are being repaid after deducting Rs 10 crore towards the issuance of equity shares to HUDCO as per the new agreement,” a Cochin International Airport Limited official said.
CIAL had taken a loan of Rs 143 crore from HUDCO to fund airport construction works during the 1995-2000 period at an interest of around 17 per cent.
28/03/12 Deccan Chronicle
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