It's not desirable to leave just only on 'oral info.' It's in your own interest you should have a proper official communication especially to claim the Full & Final settlement. I presume they are not talking to you on any follow up action. Was there any mails to you in this respect ?Let's see what happens.
You have to plan for health insurance in case ultimately you are forced to leave, to take care of any emergency.
Re:Packages-So far as I know there is no Act (except ID act) which deals comprehensively as to what should be the package like in instances of termination/ severance due to closure of establishment. Again no quantum has been prescribed. It would depend on the bargaining power of the parties and the willingness to compensate convincingly on the part of employer. I have been noticing many employers pressurising their employees 'to resign' rather than face 'termination'. In Indian condition, most of employer-employees tie-up is dealt under the 'law of contract' which is common for every dispute, rather than employees' centric labour laws. Which means an employee's service can be terminated as per the clauses contained in the appointment letter which generally provide for 'terminable within 1/2 months notice on either side or in lieu thereof with payment of notice pay'. Some terms contains simply "..your services can be terminated at any time without assigning any reason or compensation..."
I have not come across anyone's appointment letter or HR policy which quantify what should be the formula for 'termination benefit or severance pay'. Most of officials in the HR profession know severance thru' VRS route by which the package generally seen at "15 days' salary for every year of past service or the sum total of future salary till the superannuation, whichever is lower" . This again is in line with govt./quasi govt. employers. Only very few follow such packages in pvt.sector because of reasons explained above. Since not everybody is willing to take the employers to the court in the matter fearing for receiving "clean" 'experience letter/service certificate' which is crucial for pursuing their future career, most of exiting youth-employees having less no.of years' services used to opt for resignation silently, content with a few months notice pay & a clean relieving letter. This again a fear, in the job market, 'back ground verification' with former employees will play a deciding role in securing alternate job.
May be a handful, who could afford to the cost & time involved, might have reached apex courts in the absence of a comprehensive labour policy law/ act in India addressing 'terminal package' issue.
The packages discussed by you could be seen at best stray cases only which are not commonly followed for all with the backing of sound labour laws. However, at the same time, at very senior levels, hefty payouts are negotiated and settled after consensus reached between the parties.
I hope, so far they have not threatened/asked you to resign. It's likely when they force you to leave you are sure to ask for both. Nothing wrong in it. You are free to demand to safe guard your interest/future. I would suggest, in the circumstances, you should be well prepared for the worst including a legal battle.