Incab Employees’ Association, a recognised union of the Calcutta-based workers of the ailing Incab Industries here, has decided to seek legal opinion for preventing liquidation or insolvency of the company.

Officials of the union on Tuesday expressed their concern over the recent move of National Company Law Tribunal (NCLT), which appointed an interim resolution professional (IRP) set an August 21 (Wednesday) deadline for employees and other creditors of the company to stake claim on their outstanding dues.

Employees, who have waited for Incab, once a blue chip cable manufacturer, to start for years now, have taken a dim view of the NCLT order.

“The latest diktat of the NCLT is a move towards liquidation of the company (Incab) which we strongly oppose,” said a senior functiory of the union to The Telegraph over phone from Calcutta. “We will take legal recourse to stop the company from liquidation.”

The mood was equally defiant in Jamshedpur.

On Monday night, employees in Jamshedpur and members of the Intuc-affiliated Incab Industries Employees’ Union held a meeting at Tinplate here. The meeting was presided over by veteran trade union leader and president of Incab Industries Employees’ Union Rakeshwar Pandey.

Here too, employees’ union representatives and a section of workers vehemently opposed the liquidation move .

They also hinted at corporate intrigue and termed the latest development as a ploy of RR Kabels, one of the bidders who had been earlier in the fray to take over the ailing company, but whose stake had been rejected in court.

“We are completely against the liquidation of the company. I am in constant touch with authorities of Tata Steel, which is interested to take over the company. The employees of Incab here have been asked to submit their proof of claims (outstanding dues) in a specific form at to the interim resolution professional (IRP) appointed by the NCLT by August 21 (Wednesday). But, we have appealed to the employees to abstain from taking that step,” the veteran trade union leader said.

He suggested that falling into this trap would be a short-term and short-sighted move on the part of employees. Pandey adding that they were also seeking legal opinion on how to proceed in this regard.

According to Pandey, the current order of the NCLT would only delay the company’s revival process.

“When the Supreme Court and the BIFR (which was dissolved in 2016, paving way for NCLT) had already given their verdicts in favour of Tata Steel declaring the steel giant the best bidder, we will obviously extend our full support to Tata Steel,” he added.

The NCLT was established by the Supreme Court to order to handle the laws regarding to the companies.

The NCLT operates as a quasi-juducial authority which handles the structures and laws and settles disputes which are related to corporate cases. The NCLT is formed on Article 245 in the constitution of India.