The Cabinet Committee on Economic Affairs has approved the closure of Hindustan Fluorocarbons (HFL) and shutting down its operations to ward off future risks and liabilities.
The financial implications of closure involve providing support of Rs 77.20 crore to the company in the form of an interest-free loan for settling closure related liabilities.
Hindustan Fluorocarbons is engaged in the manufacture of Polytetrafluroethylene (PTFE).