The Gujarat State Fertilizer Corporation (GSFC) today said the government has agreed to release the withheld subsidy on ammonium sulphate.
In a regulatory filing, the company informed that the "Department of Fertilizers, Government of India has agreed to release the subsidy on Ammonium Sulphate for the period from 18th March, 2013 to 05th March, 2017".
This should help in getting a subsidy of Rs 693 crore held up for the said period, it added.
The government had stopped subsidy payment to GSFC in March 2013 as it found the company did not pass on the benefits to farmers for a certain period, which was challenged by the company immediately in the Delhi High Court.
However, the company withdrew its case in March 2017 to enable the Department of Fertilizer to make recovery and take further action.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)