Kerala Govt to take over Hindustan Newsprint from Hindustan Paper Corp

New Delhi: The Minister of Heavy Industries & Public Enterprises, Prakash Javadekar, in a written reply in the Lok Sabha today stated that National Company Law Tribunal (NCLT), Kochi bench, on 28 November 2019 in an application filed by a creditor of Hindustan Newsprint Limited (HNL) directed for initiation of Corporate Insolvency Resolution Process (CIRP) under Insolvency & Bankruptcy Code (IBC), 2016, and appointed an Interim Resolution Professional (IRP) for HNL. 

Hindustan Paper Corporation (HPC) Ltd, the parent company of HNL, is under liquidation as per the orders of the NCLT, New Delhi Bench, and the National Company Law Appellate Tribunal (NCLAT). 

On 25 November 2019, the NCLT, New Delhi, granted permission to the Liquidator, HPC, to sell the 100% shareholding of HPC in HNL to the Government of Kerala.

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


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The ID Staff

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