One-time relief package offer announced by the Assam Government for Paper Mill Employees.
The state government informally proposed to the employees that it was willing to arrange for clearing their provident funds (PF), gratuity and pensions at the earliest. It also proposed to give out the salary for two years but in instalments.
This comes after the NCLT liquidator failed to get a response on notice to e-auction the assets as an "ongoing concern”.
The state government informally proposed to the employees that it was willing to arrange for clearing their provident funds (PF), gratuity and pensions at the earliest. It also proposed to give out the salary for two years but in instalments.
The government informed that employees must vacate all quarters in Jagiroad township, Cachar paper mill township and corporate office township at Kolkata’s Salt Lake area, once they receive the PF and gratuity.
On June 1, the liquidator had issued an e-auction notice at the portal of the Metal Scrap Trade Corporation for the sale of the HPC (in liquidation) as an ‘ongoing concern’ at a reserve rate of Rs 1,139 crore.
The total liability of the Assam government now stands for Rs 1,200 crore.
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