Silchar: The National Company Law Tribunal (NCLT) has ordered commencement of a corporate insolvency resolution process against Hindustan Paper Corporation Limited (HPCL), apparently putting thousands of workers of the two paper mills in Assam, including those of Cachar Paper Mill in Barak Valley, in dire straits.
The tribunal, a quasi-judicial body under the Centre, adjudicates issues related to Indian companies. It was established under the Companies Act, 2013, and constituted on June 1, 2016, by the Centre.
A senior official of HPCL on Friday said they had received a notice from the tribunal on Thursday afternoon. “This came as a shocker. We are worried about the mill’s fate,” he said.
All creditors of HPCL, including the employee…
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