VRS to Employees of Public Sector Undertakings

VRS to Employees of Public Sector Undertakings

The Government has approved closure of five Central Public Sector Enterprises and offer of attractive VRS to their employees in relaxation of Department of Public Enterprises guidelines.  The details are given below:

Name of CPSENo. of employees as on 1.5.2015
HMT Bearings Ltd.55
HMT Watches Ltd.1004
HMT Chinar Watches Ltd.31
Tungabhadra Steel Products Ltd.75
Hindustan Cables Ltd.1517
Total2682

Movable assets of aforesaid CPSEs like Plant and Machinery, furniture and fixture, vehicles etc.  would be either auctioned or transferred to holding/subsidiary/associate CPSEs or Government/Government controlled Body.  Immovable assets i.e. land and/or buildings would be transferred to Central/State Government or Central/State Government entities/PSUs only, depending on the terms of lease/ownership of concerned CPSE.

This information was given by Minister  of  State in the Ministry of  Heavy Industries and Public Enterprises, Shri G.M.  Siddeshwara in a written reply in Rajya Sabha today.

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