PIB News Update: Minister of Heavy Industries & Public Enterprises, Prakash Javadekar has informed that The National Company Law Tribunal (NCLT), Kochi bench, on 28.11.2019 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 Limited (HPC), 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 25.11.2019, the NCLT, New Delhi granted permission to the Liquidator, HPC to sell the 100% shareholding of HPC in HNL to the Government of Kerala.