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Cabinet approves conversion of loan, FA into fully paid up share capital

SRINAGAR: The State Cabinet today accorded sanction to the conversion of Government loans and financial assistance released from time to time by the Government to the Jammu & Kashmir Horticulture Produce Marketing Corporation (JKHPMC).         

An official spokesman said here on Tuesday evening that the Cabinet chaired by Chief Minister, Mehbooba Mufti today accorded sanction to the conversion of Government loans and financial assistance released from time to time by the Government to the JKHPMC, amounting to Rs 77.39 Crore as on 31.03.2017, into fully paid-up Share Capital of the Corporation and conversion of interest part as well to the extent of Rs 28.75 Crore, into equity Share Capital of the Corporation. (AGENCIES)

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