NEW DELHI: Raji Philip, the Chairman-cum- Managing Director of public sector undertaking Hindustan Paper Corporation Limited, and five General Managers of the company have been suspended on charges of corruption, sources said here tonight.
A detailed probe was underway to ascertain the extent of the graft allegedly involving the top executives of the PSU which suffered a loss of Rs 60 crore in the first six months of this year, the sources said.
Before the loss suffered in the first half of this year, the Assam-headquartered HPCL was a profit-making PSU.
There was a blast in the factory of HPCL in Assam last week, after which the plant has been closed for three months, said the sources adding this would further accummulate the losses of the company.