State okays Mahanand takeover by NDDB

The state cabinet on Wednesday gave its nod to hand over the cooperative milk brand, Mahanand, to the Central government-run National Dairy Development Board (NDDB) for its revival over the next five years. The NDDB, headquartered in Gujarat, had submitted a proposal to take over the loss-making cooperative with a mandate to dissolve its existing board and implement a voluntary retirement scheme for at least half of the 940 employees.

“NDDB will take over as administrator of Mahanand for the next five years by appointing a managing committee, which will be headed by the secretary of the dairy development department. The proposal submitted by the NDDB has projected a profit of ₹84 crore in the next five years,” a statement issued by the government said and added the state would contribute ₹254 crore towards its rejuvenation.

https://www.hindustantimes.com/cities/mumbai-news/state-okays-mahanand-takeover-by-nddb-101710356618951.html

Source: Hindustan Times