The management of beleaguered auto company Hindustan Motors is hopeful of restoring normalcy at the Uttarpara plant by June 30, the company has said. A work suspension notice was issued by the company on May 24.
The company, which had announced a meeting of its board of directors on May 30 for finalisation of 2013-14 results, said in a further notice to the stock exchanges on May 28, that its accounts were maintained at its Uttarpara plant where a work suspension notice was issued on Saturday. Hence it would not be able to publish its audited financial results (AFR), the company said.
“Owing to certain compelling recent developments, the company declared suspension of work at its Uttarpara plant … in view of the present labour unrest at the Uttarpara plant, it is not possible for the company to access accounts and accordingly the board meeting scheduled for May 30 is being postponed till accounts are accessed,” the company said. The company is likely to hold a bi-partite meeting with the government on May 29.
