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| Exchange Received Time 04/11/2019 14:14:30 Exchange Disseminated Time 04/11/2019 14:14:41 Time Taken 00:00:11 | Further to our letter dtd. 3.10.2018, we hereby inform you that the Company has entered into full and final settlement with Hind Kamgar Sanghtana, an unrecognised labour union (HKS) for an amount of Rs. 3.65 crores (Rupees Three Crores Sixty-Five Lakhs Only) for ending the Labour issues in the Company.
Pursuant to implementation of the settlement, all the litigations filed against the Company by HKS will be withdrawn and the agitation outside the Factory Gate of Kasarwadi Plant will be ended.
The settlement will help the Company to focus on moving the necessary machinery, equipment and stock to its Dahej Plant and complete the necessary Post - Closure formalities pertaining to the Kasarwadi Plant. |
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