[14th February 2025] – The workers of Hindustan National Glass & Industries Ltd. (HNG) strongly condemn and oppose AGI Greenpac’s recent attempt to delay and derail the Corporate Insolvency Resolution Process (CIRP) of HNG by filing a review petition in the Supreme Court against its landmark order dated 29th January 2025 in 6071/2023 Independent Sugar Corporation Ltd. v/s Girish Juneja & Others. This blatant legal maneuver by AGI Greenpac is a deliberate effort to push HNG into liquidation, jeopardizing the livelihoods of thousands of workers and disrupting the Indian glass industry. AGI Greenpac, being the second-largest player in the container glass sector, stands to directly benefit from the liquidation of HNG or the closure of its plants. This raises serious concerns about AGI’s deep commercial vested interests in prolonging HNG’s insolvency resolution.
Workers Stand Against AGI Greenpac’s Dirty Tricks
The workers of HNG have fought with their hard-earned money to seek justice against AGI Greenpac’s unethical tactics. AGI Greenpac has been attempting to bypass proper scrutiny by the Competition Commission of India (CCI) and exploit the Insolvency and Bankruptcy Code (IBC) as a backdoor route to establish a monopoly in the container glass industry.
AGI Greenpac’s intention is not to keep all current HNG plants running beyond a point, but rather to illegally acquire HNG through the IBC route, sell off its land and assets at a high value, and pump the proceeds into AGI Greenpac to cement its position as the de facto No. 1 player in the market. This predatory move is fundamentally against the interests of thousands of workers, who will ultimately be rendered jobless.
By attempting to delay the conclusion of the CIRP, AGI is playing with the fate of thousands of employees and their families. If allowed to succeed, this move will lead to large-scale unemployment, disrupt industrial stability, and further monopolize the market.
Appeal to the Chief Justice of India and Competent Authorities
The workers of HNG further urge the Hon’ble Chief Justice of India and other competent authorities to ensure that such mischievous and ill-intended moves by AGI Greenpac are not entertained. Filing a review petition against the Supreme Court’s
landmark judgment of 29th January 2025—especially after a senior judge who was part of the bench has demitted office—is utterly regretful. It strongly suggests a deliberate conspiracy to dislodge the verdict with potential ill intentions, particularly against the workers.
This attempt to manipulate the legal process to serve corporate interests at the cost of workers’ livelihoods must be recognized and rejected outright. The integrity of the judicial process and the interests of thousands of workers must be protected from such unscrupulous corporate tactics.
Urgent Call for Compliance with Supreme Court’s Order
We further pray to the Committee of Creditors (CoC) and all other decision-makers involved in this process to immediately comply with the Supreme Court’s order and conclude this long-running CIRP without further delay. The prolonged uncertainty is taking a severe toll on the workers, their families, and the company’s future. Any further obstruction would only deepen the crisis and worsen the plight of thousands of employees.
We, the workers of HNG, stand united in our demand for justice and a fair resolution that safeguards our jobs, industry, and future.
Issued by:
Workers of Hindustan National Glass & Industries Ltd.
