ITI Ltd, easily one of the most incompetent Indian public sector units, put out its begging bowl and the Government of India has given it Rs 125 crore in the form of an interest-free loan.
The Bangalore-based ITI, with units in other parts of the country, is in dire straits and not in a position to even pay salaries to thousands of its employees.
For the nine months ended December 31, 2008, ITI reported sales of Rs 788.26 crore and a net loss of Rs 441.17 crore.
ITI has been on a downward spiral for several years and should have been euthanized in the mid-1990s itself.
ITI manufactures telecom switches, transmission, access and terminal equipments in addition to supplying communication products to the Indian armed forces.
Indian Telecom Beggar ITI gets Rs 125cr to Pay Salaries added by SearchIndia.com on
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So whats your expert opinon about it? Do you think the governement should not help the sick company? and you want to fire all the employees? whats your reason for posting this article? Just by seeing anything in net you post it here? Please state the reason for your posting with your opinon or for its betterment, or pinpoint the areas for this mis management…if you are incompitant for anything useful..shut your bloody mouth/fingers in your keyboard and [trash talk]
SearchIndia.com Responds:
1. ITI has been ill-served by its management. Go back over the last couple of decades and look at the top management of the company, their wasteful trips abroad et al.
2. Look at the R&D of ITI. Pathetic. In the mid-1990s they made such a noise about the XD-90 Switch that would take on the big boys of the world. Nothing came out of it.
3. Their joint ventures were hardly anything to write home about.
4. At one point, ITI was even looking at growing Calcutta Grass and roses as a revenue opportunity. No kidding.
You really ought to do your homework before bugging us with your nonsense.