The state-run National Textile Corporation (NTC) has put on hold its plan to revive ten mills in the central Mumbai after the high court order. NTC officials told that "we are in the mid of studying the order and after consulting our law- yers an appeal will be made in the supreme court (SC). Till then we will not proceed in case of ten mills." The official, however, declined to specify the timeframe for approaching the apex court. Meanwhile, NTC has borrowed Rs. 1800 crore in its holding company for revival and payment of workers' dues. NTC was relying on the sale of Rs. 2,021 crore to pay back this loan and simultaneously carry out the revival. They are still in a quandry over whether the money received from the sale of five mills will need to be paid back to the buyers of these mills.
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