Cabinet approves sale of Hindustan Antibiotics land

By | December 22, 2016

The Cabinet on Wednesday approved the sale of surplus and vacant land of state-run Hindustan Antibiotics Ltd in Pimpri, Pune to meet liabilities worth ₹821.17 crore.

Hindustan Antibiotics is the country’s first public sector undertaking in the field of drugs and pharmaceuticals. “Sale of surplus and vacant land of about 87.70 acres of Hindustan Antibiotics to meet the net liabilities of ₹821.17 crore after waiver and deferment, through an open competitive bid,” said an official statement.

Source: Business Line