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Press Information Bureau
Government of India
Ministry of Heavy Industries & Public Enterprises
16-July-2019 13:02 IST
Liquidation of Hindustan Photo Films Manufacturing Company Ltd.

The Madras High Court on 29.08.2016, upheld liquidation of the Hindustan Photo Films Manufacturing Company ltd., a public sector unit at Ooty. Official Liquidator is yet to take over.

All the employees ofHindustan Photo FilmsManufacturing Company Ltd. (HPF) were relieved on Voluntary Retirement Scheme (VRS).

Amount estimated for VRS was Rs.181.54 crore and amount spent so far on VRS is Rs.147.46 crore.

Salary was paid to all the former employees till 30.06.2016 incompliance with Madras High Court orders and Government of India guidelines.

As per the decision of CCEA, outstanding recoveries of recoverable/adjustable advances/Special Performance Allowances paid to the employees in the past against DPE guidelines, were deducted from VRS payment to each former employee.

This information was given by the Minister of Heavy Industries & Public Enterprises, Arvind Ganpat Sawant, in a written reply in the Lok Sabha today.

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MM/ SB