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    NCLT Delhi bench rejects plea of liquidations of Assam paper mills

    JACRU urged CM Himanta Biswa Sarma to prove his efficiency to resolve the issues since it is their commitments to the citizens as per BJP "Sankalpa Patra" issued before the Assembly elections 2021

    Guwahati: The Joint Action Committee for Registered Unions (JACRU), Nagaon & Cachar Paper Mills, Assam on Wednesday informed that the National Company Law Tribunal (NCLT) Delhi Bench has rejected the fresh application of Liquidator allowing permission to Liquidate Assets of Hindustan Paper Corporation Ltd. includes Cachar & Nagaon Paper Mills, Assam & Ordered to abide NCLAT order dated May 29, 2019, to ensure that HPC remain a going concern.

    In a press statement JACRU also stated that due to nonpayment of only Rs 98 lakhs claims of a Vendor, Alloy & Mental Pvt Ltd, The NCLT Ordered Liquidation of Assets of Government-Owned HPC vides order dated May 2, 2019.

    “We on behalf of CPPWU (INTUC) challenged the NCLT Order at Appellate Tribunal, NCLAT Delhi & the NCLAT passed an order to ensure that HPC remains a Going Concern while directing the Government of India to release appropriate Funds to ensure that the Corporation remains a Going Concern,” said Manobendra Chakraborty, President, JACRU in the press statement.

    Chakraborty also added, “Unfortunately, the government flagrantly violated the Order & did not pay any heed to release funds to revive the Industries, the Liquidator, Kuldeep Verma failed to bring any viable plan for reviving the Corporation as the Government did not extend any support thus filed fresh Application seeking permission of Liquidation of the Company.”

    The body also claimed that the Government of Assam in their application dated September 10, 2019 expressed their interest to take over the Assets but besides repeated adjournment, the Assam Government failed to submit their final Plan or Proposal to the Liquidator or before NCLT.

    The NCLT Delhi Bench pronounced order on April 26, 2021 and the Copies of Order reached the JACRU on May 11, 2021, which clearly reject the Petition of Liquidator Kuldeep Verma, which applied for permission to Liquidate the Corporation. The bench further directed the Liquidator to obey the order of Appellate Tribunal NCLAT passed on May 29, 2019.

    “By this Order hope for revival of the industries regains momentum,” added Chakraborty.

    It may be mentioned that during the five years following the shutdown of the Nagaon and Cachar paper mills, at least 85 workers attained untimely deaths, 4 of them committed suicide, due to nonpayment of salary since last 53 months. Surprisingly, as many as two lakh families lost their source of employments, thus, jeopardizing the socio-economic conditions of the region severely.

    JACRU in its press statement also revealed its confidence towards the newly elected Chief Minister Himanta Biswa Sarma for his dynamic leadership quality, hence, the body urged before him to prove his efficiency to resolve the issues since it is their commitments to the citizens as per BJP “Sankalpa Patra” issued before the Assembly elections 2021.

    “JACRU is confident that the Government in Centre & State will come forward to resolve this issue and release pending dues of the workers to arrest further Deaths & will revive the Industries to reestablish lacs of employments for the unemployed youths,” Chakraborty added further.

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