The company was also looking for a strategic investor for the revival of the Uttarpara plant.
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.
C K Birla group company Hindustan Motors (HM) has drawn up plans for restructuring of the company which was suffering from poor cash flow due to lack of vehicle sales.
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