Crisis-ridden Hindustan Motors, the maker of iconic ambassador cars, on Saturday declared suspension of work at its Uttarpara plant in West Bengal. The automaker said in a statement that the plant has been going through tough times in the past few years and its best efforts to revive the unit have failed; given the present circumstances it has no alternative but to declare a suspension of work. “The suspension of work would enable the company to restrict mounting liabilities and restructure its organisation and finances and bring in a situation conducive to reopening of the plant,” the company said. ENS
