IAF dues mount, HAL’s cash in hand plummets

Hindustan Aeronautics Ltd’s cash-in-hand has plummeted to a meagre Rs 140 crore as of March 31 this year — its lowest since 2004 — in a direct impact of its massive dues from the defence ministry. The MoD owed the defence public service unit (DPSU) about Rs 14,000 crore for the financial year ending March 31, 2019. Majority of the dues is owed by the Indian Air Force.

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