Amid political row, HAL to hold board meeting on Tuesday

Last Updated: Tue, Jan 08, 2019 12:18 hrs
Hindustan Aeronautics (Image Courtesy: Wikipedia)

New Delhi: Amid an ongoing row between the BJP and the Congress over Hindustan Aeronautics Limited (HAL), the aerospace PSU will be holding a meeting of its board on Tuesday in which it is likely to discuss its financial position.

Congress president Rahul Gandhi has been attacking Defence Minister Nirmala Sitharaman for "lying" in Parliament about placing orders of Rs. 1 lakh crore to the PSU, however, the latter has refuted the allegations.

"The initial board meeting was held today with senior management including the Chairman and a Joint Secretary from the department of defence production of Defence Ministry also in attendance," Defence Ministry officials informed ANI here.

While today's meeting had presentations on the various projects from the departments concerned, detailed discussions will be held in the main meeting tomorrow, the officials said.

After the war of words between Gandhi and Sitharaman, the HAL had clarified that it had taken an overdraft of Rs. 962 crore but with orders for 83 light combat aircraft, 15 light combat helicopters and other products, its finances are expected to improve.

HAL issued the clarification after media reports quoting its chairman suggested that the firm was forced to borrow money to pay salaries to its employees.