HMT Takes Final Step To Close HMT Watches, Files Application With Ministy Of Corporate Affairs

HMT, one of the nation's oldest public sector manufacturing brands, has taken the final step to shut down its watchmaking arm, HMT Watches Limited, by filing an application to strike off the company with the Ministry of Corporate Affairs on January 6, 2026.

The filing was disclosed by HMT Limited in a regulatory filling with the stock exchanges.

HMT Watches, once known as the 'Timekeeper of the Nation' has not carried out any business for several years and has been running losses for much longer. With the striking-off application, the company is seeking to have the subsidiary's name removed from the official register, which would formally dissolve the entity.

The decision itself is not new. Back in January 2016, the Cabinet Committee on Economic Affairs had cleared the closure of three unviable HMT subsidiaries: HMT Watches Limited, HMT Chinar Watches Limited and HMT Bearings Limited. The government had then said the units had little chance of turning around and continuing operations would only deepen losses.

To manage the shutdown, the Centre approved a cash support package of Rs 427.48 crore. Most of this money went towards voluntary retirement schemes for employees, with payouts worked out at 2007 pay scales, ensuring that staff dues were settled before the companies were finally wound up.

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