Centre Orders HPC (Hindustan Paper Corporation) liquidation

SPECIAL CORRESPONDENT

SILCHAR: After much dilly dallying over the question of revival or liquidation of HPC (Hindustan Paper Corporation) mills of Assam, the Centre has at last opted for shutting them forever. According to a reliable source here, National Company Law Tribunal (NCLT) New Delhi in an order on November 25 has directed the Supreme Court appointed Liquidator, Kuldip Varma, to start the liquidation process of HPC based in Kolkata as neither the Government of India nor any other party has come forward to run the mills in Cachar and Nagaon.

The shut down or liquidation of both the mills will affect the lives and livelihood of around 2 lakh people, engaged in direct and indirect employment, besides blocking all scope of future employment of youths. It will also adversely affect the socio-economic development of the region, opine concerned citizens. Liquidation will mean the mills, its plants and machinery, will be sold in tits and pieces as mere scraps.

The decision of the Centre on liquidation has not been surprising as quite for some time in the past, indications about a drastic step have been making headlines in the media, of course, with a tag. A news was also in the media that the Centre invested Rs 4141 crore during the years 2015 to 2018 for putting the mills on steam as stated by Arbind Ganpat Sawant, Minister of Heavy Industries and Public Enterprises, in the Parliament. But a reply to RTI revealed only Rs 509.66 crore was invested.

The development has come as a bolt from the blue for the employees, groping in dark, but hoping against hope. The assurances and promises from the ministers and leaders for revival, point out an employee Snehasis Acharya, have turned into a hoax. All hopes of those dependent on the mills have been belied. The employees have been pushed to yet another phase of uncertainty in respect of the payment of their gratuity, pension, salary due for last 35 years and other benefits. Their economic distress will further increase unless they get immediate relief.

Also Read: Revival of HPC Paper Mills: Employees to Welcome Viable Package

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