Hindustan Motors reportedly is considering ‘monetising’ the land at its Uttarpara plant in West Bengal.

A senior company official said: “This is prime land and the management feels the best way to get something out of this facility is to monetise it.

“The management made several attempts to revive the situation, but nothing materialised. While the business of Ambassador cars was no more a viable option, the attempts at getting partners have also bore no fruits,” the official added.

A company spokesperson said: “Hindustan Motors Limited came out with another scheme on repeated requests of its employees. The company, in spite of severe financial crisis and earning no revenue for past 16 months, has considered the requests of employees and this manifests its bona-fide intention and commitment towards employee welfare,” Business Standard reported.