Tungabhadra Steel, 3 HMT units face Govt shutdown plot

Government on Thursday said it has submitted closure proposals related to four companies including three HMT units and Tungabhadra Steel to CCEA for approval. “Cabinet notes for closure of four unviable public sector companies namely HMT Watches Ltd, HMT Chinar Watches Ltd, HMT Bearings Ltd, and Tungabhadra Steel Products Ltd, have been finalised and submitted to the Cabinet Committee of Economic Affairs (CCEA) for approval,” MoS for Heavy Industries G M Siddeshwara said.