An in-principle decision has been given by the Cabinet Committee on Economic Affairs (CCEA) in respect of four closing companies, viz. HMT Chinar Watches, HMT Watches, HMT Bearings and Tungabhadra Steel Products (TSPL) that after their closure, their land would be transferred/sold to Central Government Ministries / Departments / CPSEs / Public Sector Banks/State Government Departments or their entities. The land will be sold/transferred by following the Expression of Interest (EOI) route. In case of land taken on lease from state governments, the same has been approved for being returned to them as per lease conditions.
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