Auction of 3 Hindustan Paper Corporation Ltd (HPCL) flats on Feb 9 & 10, 2020

Staff Reporter

GUWAHATI: Putting an end to all ‘loose talks’ on the revival process of the two HPCL (Hindustan Paper Corporation Ltd) mills, a notice has been issued for the auction of certain HPCL assets on February 9 and 10, 2020. Three HPCL flats – two in Guwahati and one in Mumbai – will go under the hammer (e-auction) from noon on February 9 up to 11:59 am on February 10, 2020.

Talking to The Sentinel on the auction notice, secretary of the Joint Action Committee of Recognized Unions (JACRU), Nagaon and Cachar Paper Mills, Manabendra Chakraborty said, “Be it a conspiracy or a coincidence, both the sale notices of the HPCL assets and the State government’s support for the education of HPCL employees’ wards were issued on January 9, 2020. The game is on. This is indicative of all that are going to happen next. Set to go under the hammer next are the HPCL employees’ quarters, the huge HPCL property as well as the landed property of Assam besides others. Earlier on December 23, 2019, the NCLT (National Company Law Tribunal) had also issued an order to vacate the HPCL employees’ quarters by January 31, 2020.”

On the State government’s financial support for the education of HPCL employees’ wards, Chakraborty said, “The announcement made by State Finance Minister Himanta Biswa Sarma on Thursday was a ploy to divert the vital issue of reviving the two papers mills in the State. That apart, the support from the State government has been extended at a time when our wards have taken to the streets with begging bowls. The Government owes us around Rs 530 crore, including the arrear salaries of 36 months, PF deposits, gratuity etc.”

According to the notice issued by the liquidator of HPCL, while each of the two 1,250 sq ft flats at National Games Village, Borsajai in Guwahati, set to be auctioned is valued at Rs 42 lakh; the 652 sq ft flat at Mumbai is valued at Rs 1.30 crore. It was on May 2, 2019, that the NCLT had ordered the liquidation of HPCL.

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