Defence Monitor

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Cash-strapped HAL takes Rs 962-crore overdraft

Cash-strapped HAL takes Rs 962-crore overdraft

Bengaluru: Cash-strapped state-run Hindustan Aeronautics Ltd (HAL) on Sunday said it had taken an overdraft of Rs 962 crore."With anticipated collection up to March, the cash position is expected to improve. Orders for LCA (Light Combat Aircraft) Mark 1A 83 and LCH (Light Combat Helicopter) 15 are in advanced stages," said the city-based defence behemoth in a tweet from its official Twitter account. The company also said its belated tweet on a Sunday night was in response to "the various media reports on HAL".The defence aerospace major, however, did not mention from whom or which bank the overdraft was taken and…
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