Cabinet approves winding up of Bharat Ophthalmic Glass Ltd.

New Delhi, June 16 (UNI) The Union Cabinet today accepted the decision of the Board of Industrial and Financial Reconstruction (BIFR) and recommendation of Board for Reconstruction of Public Sector Enterprises (BRPSE) for winding up of Bharat Ophthalmic Glass Ltd (BOGL), Durgapur.

The Cabinet also gave its approval to open Voluntary Separation Scheme (VSS) for all the employees on the roll of BOGL for a period of three months and to settle all employee related dues including VSS benefits, salary/wages and statutory dues.

For the purpose, the Cabinet said an additional budgetary provision of Rs 9.80 crore will be required.

BOGL will be closed down under the Industrial Disputes Act, 1947.

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