The Union Cabinet on Wednesday approved closure of Hindustan Fluorocarbons Ltd (HFL), a central public sector enterprise with just 88 employees. The decision was taken in a meeting of Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.
HFL has only one plant located at Rudraram, District Sangareddy in Telangana. HFL has been making losses since 2013-14 and has negative net worth. Government granted a interest free loan of over 77 crore rupees to HFL for expenditure exclusively on closure.