Nava Limited, a diversified conglomerate and the parent company of Maamba Collieries Limited has announced a significant turnaround on financial position of MCL.
The board of directors of Nava Ltd has recommended a final dividend on equity shares at the rate of 300% i.e. Rs. 6.00 per equity share of Rs. 2/- each for the financial year ended March 31, 2023.
Nava Ltd has announced that The Arbitral Tribunal has issued a Consent Award settling all the claims and confirming the Payment Plan to liquidate the outstanding arrears following an agreement reached between MCL and ZESCO.
NAVA Ltd has announced the partial operation of 114 MW power plant i.e., shut down of 2x32 MW and partial load of 50 MW at Paloncha, Telangana, due to severe coal shortage with immediate effect.