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Demand to disclose the valuation of oil reserve in defunct paper mill

By Correspondent
Demand to disclose the valuation of oil reserve in defunct paper mill

Hailakandi, July 12: The Cachar Paper Project Workers' Union today asked the Liquidator of Cachar Paper Mill, Kuldeep Verma to disclose the valuation fixed on the volume of oil reserve available at the land of the mill and presently at lease rent agreement with ONGC.

In a letter to Verma, the president of the union, Manobendra Chakraborty informed that the three natural fill well points exists in mill township area and the land area is enriched with underground oil reserve is reportedly having lease rent agreement with ONGC, surprisingly, the valuation of oil reserve which is termed as liquid gold has not been disclosed anywhere in auction notification and only land area has been mentioned without earmarking oil reserved law, he added.

Chakraborty said that they have observed that revised auction notice has been notified with reduced price 170 crore from reserve price of rupees 1139 crore whereas nowhere it has been discussed that the land of the mill is also enriched with natural oil reserves.

"As land having oil reserves is precious and inclined with national interest being the national property, we request you to disclose the details prior to selling the law to any third party", Chakraborty said in the letter to liquidator.

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