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Reliance writes off 90 percent investments in Deccan 360

Maharashtra,Business/Economy, Fri, 20 Apr 2012 IANS

Mumbai, April 20 (IANS) Reliance Industries' subsidiary Reliance Industrial and Investments Holding Friday said it has written off 90 percent of investments in aviation cargo and logistics company Deccan 360.


According to the company's results filing to the Bombay Stock Exchange (BSE), the company has written off Rs.107 crore it invested in the company.


"An amount of Rs.51 crore, net of losses recognized in earlier years, has been recognised in the results," the filing said.


Deccan 360 was launched in May 2009 by Air Deccan founder Captain G.R. Gopinath.


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