Shalimar Paints pleads inability to revive Howrah plant.

Shalimar Paints, which declared suspension of work at its Howrah plant, said it did not have the requisite financial strength to repair and rebuild the fire-damaged factory, the company's oldest.

'The company does not have the required financial strength to rebuild and repair the Howrah plant. The final estimates for rebuilding and restoring full-scale operations has been arrived at Rs. 60 crore and are beyond the resources of the company,' a company spokesperson told PTI.

BS