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The minister confirmed that the company has been under collapse for the past 15 years.
Following the incident, the employees of Traco Cable Company, a manufacturer of wiring cables and conductors, are now staging a protest.
The VC for the HR department, since the job calls for the right mix of ruthlessness and compassion, is named Rangan ('Aavesham').
The LDF's policy was to make PSUs profitable instead of downing their shutters.
Gandhi said Public Sector Undertakings (PSUs) used to be the pride of India and the dream of every youth for employment but today, they are "not the priority of the government".
Last Grade employees are allowed to encash their earned leave.
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