North East

CITU rally in protest against paper mills auction

Guwahati, June 12 (UNI): The Centre of Indian Trade Unions (CITU) organized a protest rally in Dibrugarh to protest against the Centre’s decision to auction the two defunct paper mills under the Hindustan Paper Corporation (HPC) in the state.

The workers of the paper mills demanded the revival of the paper mills.

The activists sought the intervention of Prime Minister Nadendra Modi, urging him to withdraw the auction notice issued by the official liquidator to auction the Nagaon Paper Mill and Cachar Paper Mill.

The liquidator has notified that an e-auction will be held on June 30.

While the reserve price has been set at Rs 1,139 crore, the earnest money deposit amount has been set at Rs 55 crore and the minimum incremental bid is Rs 1 crore.

In May 2019, the National Company Law Tribunal (NCLT) in New Delhi had ordered the liquidation of the two paper mills The Nagaon Paper Mill in Morigaon district has been closed (without notice) since March 13, 2017, while the Cachar Paper Mill in Hailakandi district has been closed (also without notice) since October 20, 2015.

Over 2,500 employees of both the mills have not received salaries for over four years.

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