One of the six unions of the ailing Incab Industries on Monday held a closed-door meeting over rampant theft on the company premises and decided to take up the issue with Tata Steel, which is the only bidder in the fray to take over the Golmuri-based company’s assets.

The India Cable Workers Union and five others are part of Incab Co-ordination Committee that had been set up to ensure the company’s revival.

The committee is set to meet Tata Steel managing director T.V. Narendran and request him to give a momentum to the revival issue.

“Miscreants take advantage of the security lapse at the ailing company. Often things are stolen from the company premises. A resentment is brewing among employees over the cases of theft. This needs to be taken care of. We will request the Tata Steel MD to provide security at Incab’s Jamsehdpur plant till they take over the ailing unit,” Ram Binod Singh, general secretary of India Cable Workers Union, said.

Singh went on to explain that litigation (court cases in Delhi and Calcutta high courts) was delaying company’s revival.

“But we have faith in the judiciary and are awaiting for a positive outcome,” he said.

Talking to The Telegraph over phone, Aloke Sen, a senior functionary of Calcutta-based Incab Employees’ Association, on Monday said they were happy with the discussion that took place during the maiden meeting of Incab Co-ordination Committee in Jamshedpur earlier this month.

“We would initiate steps in accordance with the discussion that took place in our meeting. Tata Steel is interested to take over Incab, but litigations are hindering it. We are preparing a draft letter mentioning the present situation of the company. The letter will be handed over to the Tata Steel MD,” Sen said.

Currently, Incab has around 950 workers on its rolls who are deprived of their salary for almost two decades.

In the mid-1990s, Malaysian promoter Leader Universal Holdings Berhad took over the company, but it started suffering losses and slid deeper in the red.

Ultimately it had to be referred to the Board for Industrial and Financial Reconstruction (BIFR) in 1999.

BIFR and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR), which had already given their verdict in favour of Tata Steel, were dissolved on December 1, 2016 paving the way for National Company Law Tribunal (NCLT), which now helps in the revival process of sick industries.

Tata Steel had proposed a financial package of Rs 87 crore for the revival of the sick unit and submitted its bid to the State Bank of India , the operating agency of the unit, in 2007.