Assam: HPC liquidator sets Rs 700 crore as reserve price for Jagiroad and Panchgram paper mills, e-auction on December 24

The liquidator of Hindustan Paper Corporation (HPC) – Kuldeep Verma, has set Rs 700 crore as the reserve price for the defunct paper mills of Assam at Jagiroad and Panchgram. 

Earlier, the Assam government had proposed an amount Rs 300 crore to buy the movable and immovable assets of the two paper mills. 

In fact, the Assam Industrial Development Corporation (AIDC) had written a letter in this regard to liquidator Kuldeep Verma on November 11. 

Meanwhile, the Jagiroad and Panchgram paper mills in Assam are set to go for e-auction on December 24. 

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Earlier the Assam government had also sanctioned Rs 570 crore for the employees as part of a relief package. 

The Assam government had appointed the AIDC as the nodal agency to acquire the assets of HPC paper mills in Jagiroad and Panchgram.