Karnataka - Bangalore   

NGEF: State pays off creditor

BANGALORE: The Karnataka High Court was on Wednesday told that the State Government had paid in full the amount the State-owned New Government Electric Factory (NGEF) owed to the State Bank of Mysore. The bank informed Justice Rammohan Reddy, who is hearing the liquidation proceedings of NGEF, that the State had paid it Rs. 80 crore that the company owed it. SBM is one of the several parties in the liquidation proceedings of NGEF that is being heard by the Company Court.

— Staff Reporter

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