In a latest update in relation to the e-auction of the two defunct paper mills in Cachar and Nagaon have been cancelled.
The decision was put before Gauhati High Court by the Hindustan Paper Mill Corporation Limited (HPCL).
The auctioning of the paper mills were fixed at a reserve price at Rs 1,139 crore.
As per reports, advocate V Sibal during the hearing of an interim petition filed by tHPCL officers, supervisors association, and two others who sought the court's intervention stated as there was no response to the e-auction sale notice, the e-auction remained cancelled.
The two paper mills — Cachar Paper Mill at Panchgram in Hailakandi district and Nagaon Paper Mill at Jagiroad in Morigaon district — both units of Hindustan Paper Corporation Limited — have been shut since October, 2015 and March, 2017 respectively.
Over 1200 employees have been unpaid since their closure.
So far, 89 employees have died including four suicides.
