UP Govt says its curtains for Uptron Ltd

The Uttar Pradesh Government has announced its decision to completely wind up the loss-making Uptron India Ltd, a state government undertaking. Decision to finally close down the company was taken on Tuesday by the State Cabinet in a meeting chaired by the Chief Minister, Mayawati.

It has been decided that all the employees of the company would be offered voluntary retirement scheme (VRS). The company till now has accumulated huge loses and its total liabilities are said to be around Rs 554 crore.