Unions urge HPCL liquidator to disclose valuation of oil reserves in defunct Cachar Paper Mills land area
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Unions urge HPCL liquidator to disclose valuation of oil reserves in defunct Cachar Paper Mills land areaPTI
Last Updated: Jul 04, 2021, 01:47 PM IST
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The valuation of oil reserves that is termed as liquid gold has surprisingly not been disclosed anywhere in the auction notification, and only the land area has been detailed, the letter, also addressed to the secretary of Ministry of Heavy Industries and Public Enterprises, pointed out.
PTI
The employees unions of two defunct units of Hindustan Paper Mills Corporation Ltd, for which bidders have been invited to conduct an e-auction, on Saturday urged the liquidator to disclose the valuation of the oil reserves in the Cachar Paper Mills land area. There are more than three natural oil well reserve points in the Cachar Paper Mill Township and the land area is reportedly in a lease rent agreement w
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The 1,200 plus employees of the defunct Nagaon and Cachar paper mills are already beleaguered over non-payment of their monetary dues ever since the suspension of operations.
Expensive paper prints now lay in tatters. Photo: Gaurav Das
Rights8 hours ago
Guwahati: The debt-ridden and now-defunct Nagaon and Cachar paper mills of the government-owned Hindustan Paper Mill Corporation Limited (HPCL) may now soon find itself going under the hammer with the issuance of an e-auction notice the content of which was put in a national newspaper dated June 1.
The reserve price as per the auction notice was put at Rs 1,139 crore.