Deals29 Aug 2024, 04:56 pm
MARIS SPINNERS LTD. Receives Rs. 7,17,57,571 Credit Linked Capital Subsidy Sanction from Karnataka Government
AI Summary
MARIS SPINNERS LTD. announced that it has taken on record the sanction order received from the Government of Karnataka, sanctioning credit linked capital subsidy of Rs. 7,17,57,571 (Rupees Seven Crore Seventeen Lakhs Fifty Seven Thousand Five Hundred and Seventy One only) under the New Textile and Garment Policy 2019-2024 for its Unit 1 in Mysore. The Board of Directors has authorized Mr. A Harigovind, Whole-time Director, to sign all necessary documents for the purpose.
Key Highlights
- MARIS SPINNERS LTD. received a sanction order from the Karnataka Government for a credit linked capital subsidy of Rs. 7,17,57,571.
- The subsidy is granted under the New Textile and Garment Policy 2019-2024 for the company's Unit 1 in Mysore.
- The Board of Directors authorized Mr. A Harigovind, Whole-time Director, to sign all necessary documents for the subsidy.
- The decision was made during a Board of Directors meeting held on 20.08.2024.