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Explore all options for revival: NCLAT

By Spl Correspondent
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NEW DELHI, May 29 - In a respite to the employees of the Nagaon and Cachar Paper Mills, the National Company Law Appellate Tribunal (NCLAT) has directed that all measures should be considered for the revival of the two defunct mills.

A three-member Bench of the Tribunal headed by chairperson Justice SJ Mukhopadhaya, Justice AIS Cheema Member (judicial) and Kanthi Narahari Member (technical) on Wednesday heard the application and ruled that services of the employees of the two paper mills should not be terminated, chief convenor of the Hindustan Paper Corporation Mills Revival Action Committee, Manobendra Chakraborty told newsmen here.

In response to their application, the Court has further ruled that the proposal that the management of the mills can be handed over to the employees should also be examined, said Chakraborty.

The Court also directed that the Central Government should be consulted while taking these steps.

The National Company Law Tribunal earlier ordered the liquidation of two paper mills under the state-owned Hindustan Paper Corporation Limited.

The Cachar Paper Mill has been non-operational since October 2015 and the Nagaon Paper Mill since March 2017. Workers at the two units have not received salaries for more than two years. There are nearly 1,200 full-time workers in the two mills.

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Explore all options for revival: NCLAT

NEW DELHI, May 29 - In a respite to the employees of the Nagaon and Cachar Paper Mills, the National Company Law Appellate Tribunal (NCLAT) has directed that all measures should be considered for the revival of the two defunct mills.

A three-member Bench of the Tribunal headed by chairperson Justice SJ Mukhopadhaya, Justice AIS Cheema Member (judicial) and Kanthi Narahari Member (technical) on Wednesday heard the application and ruled that services of the employees of the two paper mills should not be terminated, chief convenor of the Hindustan Paper Corporation Mills Revival Action Committee, Manobendra Chakraborty told newsmen here.

In response to their application, the Court has further ruled that the proposal that the management of the mills can be handed over to the employees should also be examined, said Chakraborty.

The Court also directed that the Central Government should be consulted while taking these steps.

The National Company Law Tribunal earlier ordered the liquidation of two paper mills under the state-owned Hindustan Paper Corporation Limited.

The Cachar Paper Mill has been non-operational since October 2015 and the Nagaon Paper Mill since March 2017. Workers at the two units have not received salaries for more than two years. There are nearly 1,200 full-time workers in the two mills.

More in Entertainment
Similar Posts