The VRS notice was pasted on the gates of the company's Uttarpara unit by the management, which said all workers would be paid their statutory dues plus and additional amount of Rs 100,000 each.
With the resignation of Uttam Bose as managing director and chief executive officer of HM last week, Moloy Chowdhury has been appointed as acting MD and CEO of the company, which owns assets at Uttarpara and Indore.
A large Dhruv order could significantly boost Indian defence exports. These have grown from Rs 1,940 crore in 2014-2015 to Rs 10,745 crore in 2018-2019.
Hindustan Motors currently has two facilities one at Uttarpara in West Bengal and Tiruvallur plant in Tamil Nadu.
In the last couple of months, the IT and BPO space has seen a big uptick in M&A activities, with companies merging with other entities to become bigger players.
None of the 2,600 workers had any clue about the suspension of work notice, put up on the gate of India's oldest automobile plant last Sunday.
Reliance ADAG, Tech Mahindra among top recruiters at IIM-A
Besides the manufacturing industry, voices in favouring the need for protectionism have also been heard from local start-ups, which at times find it tough to compete with global players that entered India with deep pockets.
The Ambassador was a durable enough brand to outlive the licence raj.
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