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 CPSE | No. 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 |
| Total | 2682 |
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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