Buy-backs, dividends to government left HAL poorer by Rs 15,500 Crore

As acrimonious exchanges continued over the alleged neglect of HAL, a top leader of its employees Wednesday claimed the state-run undertaking got poorer by nearly Rs 15,500 crore because of the dividends and buy-backs it made to the Centre from 2003 to 2018.

S Chandrasekhar, the general secretary of the HAL Employees Association, said the public sector aerospace and defence major returned Rs 6,393 crore to the government in two buy-backs of share for the first time in its history.

It also paid Rs 9,000 crore by way of dividend between 2003-2004 and 2017-18 when the company did not not have enough money to pay salaries to its staff.   Read More

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