The Hindu·3 min read·medium
Mini Ratna WAPCOS a ‘sinking ship’, counsel tells Delhi High Court
J
Jacob P Koshy
✦AI Summary
Counsel for WAPCOS Limited, a state-owned engineering consultancy, described the company as a 'sinking ship' during a Delhi High Court hearing regarding employee regularization. The court has ordered the production of audited balance sheets to verify the company's claims of financial instability.
WAPCOS Limited, a ‘Mini Ratna-I’ public sector undertaking under the Union Jal Shakti Ministry, is reportedly a “sinking ship” that lacks the financial capacity to retain its existing employees and has, on occasion, had to borrow money to comply with court orders.
businesspolitics
✦
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in