The Hindustan Paper Corporation (HPC) liquidator Kuldeep Verma has set a ₹700 crore reserve price for the now-defunct paper mills in Assam's Jagiroad and the industrial township of Panchgram.
The Assam government had reportedly proposed an amount of ₹300 crores to buy the movable and immovable assets of the two paper mills earlier. In that regard, Assam Industrial Development Corporation (AIDC) had also written a letter to Mr. Verma on November 11.
The paper mills at Assam's Jagiroad and Panchgram are set to go under an e-auction on December 24.
Earlier, the state government had also released a ₹570 crore relief package for the employees. The state government had also appointed the AIDC to act as the nodal agency to acquire the assets of HPC paper mills at Jagiroad and Panchgram.
