July 16, 2026 05:01 am (IST)
Follow us:
Cabinet approves restructuring plan for Hindustan Organic Chemicals Ltd.
New Delhi, May 17 (IBNS): The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, on Wednesday approved a restructuring plan for Hindustan Organic Chemicals Ltd. (HOCL), a loss making and sick Central Public Sector Enterprise (CPSE) under the Department of Chemicals & Petrochemicals.
The company, having units at Rasayani (Maharashtra) and Kochi (Kerala), has been making continuous cash losses since 2011-12 resulting in acute shortage of working capital, read a government statement.
Most of its plants have remained shut down during the last few years. It could not pay regular salary and statutory dues to the employees since February, 2015.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Kolkata's first jewellery export to UK under India-UK CETA boosts Bengal's global trade ambitions
Wed, Jul 15 2026
India-France textile ties get major boost with Bharat Tex-Première Vision partnership
Wed, Jul 15 2026
India goes big on smartphones: Indian Cabinet clears Rs 62,500 crore manufacturing scheme
Wed, Jul 15 2026
ECL strengthens green commitment, signs MoU with WBFDCL for large-scale afforestation in West Bengal
Tue, Jul 14 2026