Unions urge HPCL liquidator to disclose valuation of oil reserves in Cachar
The employees’ unions of two defunct units of Hindustan Paper Mills Corporation Ltd, for which bidders have been invited to conduct an e-auction, on Saturday urged the liquidator to disclose the valuation of the oil reserves in the Cachar Paper Mills land area.
There are more than three natural oil well reserve points in the Cachar Paper Mill Township and the land area is reportedly in a lease rent agreement with ONGC, the Joint Action Committee of Recognised Unions (JACRU) said in a recent letter to liquidator Kuldeep Verma.
The valuation of oil reserves that is termed as ‘liquid gold’ has “surprisingly” not been disclosed anywhere in the auction notification, and only the land area has been detailed, the letter,
