The National Company Law Appellate Tribunal (NCLAT) on Wednesday prohibited the shut-down of two paper mills in Assam. The three-judge bench of NCLAT headed by Justice SJ Mukhopadhaya ordered the prohibition of liquidation of the two paper mills under Hindustan Paper Corporation Limited in Jagiroad and Cachar.
The Cachar Paper Project Worker Union has challenged the 2nd May order of National Company Law Tribunal (NCLT) in the NCLAT. The NCLT had ordered liquidation of the two paper mills on May 2nd. The paper mills have been non-functional for the past few years.
Notably, the NCLAT on Wednesday also asked the government not to suspend the employees in both the paper mills. The tribunal further asked liquidator Kuldeep Verma to handle the pending salaries, bonus etc of the employees from Government’s consolidated fund.
The news has brought gust of happiness in the lives of the employees of both the paper mills, as they have been continuously demanding for the revival of the paper mills and opposing the liquidation process.