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Regular-article-logo Friday, 15 November 2024

Incab revival plea for CM Das

Employees of the ailing Incab Industries Ltd will meet chief minister Raghubar Das to tell him of the suffering caused by the delay in the company's revival and request his intervention to speed up the process.

Our Special Correspondent Jamshedpur Published 30.03.15, 12:00 AM
A file picture of Incab Industries in Bistupur

Jamshedpur, March 29: Employees of the ailing Incab Industries Ltd will meet chief minister Raghubar Das to tell him of the suffering caused by the delay in the company's revival and request his intervention to speed up the process.

A senior official with Incab Employees' Association, the workers' union of the company defunct for over a decade now, said a delegation would leave for Ranchi next week.

"As the chief minister is also the MLA of Jamshedpur (East), the Assembly segment in which Incab falls, we hope to persuade him to prod Tata Steel to pursue the matter of taking over and reviving the company. Hundreds of workers and their families are waiting for this breakthrough."

As matters stand, SBI, Incab's operating agency, had recommended Tata Steel's name to the Board for Industrial and Financial Reconstruction (BIFR) as the next promoter. Way back in 2009, the BIFR had declared Tata Steel's name as the promoter, finding it more suitable than rival bidders, Mumbai-based companies RR Kabels and Pegasus Assets Reconstruction Company, but the duo challenged the decision at the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) and Delhi High Court.

Though Delhi High Court in 2014 ruled out the Mumbai entities, the hearing date for a legal formality is pending, delaying Tata Steel's takeover.

Aloke Sen, a functionary of Calcutta-based Incab Industries Employees' Association - the company is headquartered in Calcutta - said only Tata Steel was left in the fray. "We hope chief minister Raghubar Das jogs the matter."

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