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Crisis in another successful company in Modi government, Heavy Engineering Corporation work stalled, many defense orders affected

The HEC administration had sought permission from the central authorities a couple of months again to begin some new schemes to satisfy the working capital disaster and lift funds from its personal assets at Ranchi. The HEC administration had sought permission to lease the vacant land. It was additionally authorized by the Board of Administrators, however the inexperienced sign has not but been obtained from the Ministry. Earlier, the central authorities had additionally sought a liabilities report from the HEC. On this, the administration had despatched a report back to the middle relating to the liabilities of the HEC, the variety of workers, their gratuity, PF and many others. What motion was taken on this, it isn’t clear but.

Consultants cite a number of different causes for the persevering with decline within the monetary well being of HEC. The submit of Full Timer CMD is vacant right here for a very long time. At current, BHEL’s CMD Nalin Singhal can also be holding the cost of HEC CMD. He has visited HEC solely 4 instances to date.

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