State Bank of India, the operating agency for the sick Incab Industries Ltd, has called a meeting of all stakeholders in Kolkata on August 25 to finalise the draft revival scheme (DRS) it has to submit with the Board for Industrial & Financial Reconstruction (BIFR).
SBI had cancelled an earlier meeting scheduled for July 24 at the eleventh hour as Tata Steel, one of the bidders for the sick company, had not deposited the promoter?s contribution of Rs 25 crore into an escrow account.
The steel major deposited the amount on July 29.
Apart from Tata Steel, two other bidders for the sick cable company are Mumbai-based companies R R Kabel and Pegasus Asset Reconstruction.
Meanwhile, the BIFR has fixed September 22 as its next hearing date.
The Board which by then would have received SBI?s draft revival plan will hear what the various stakeholders, including Incab?s unions, have to say on the revival packages submitted by the three bidders.