Hyderabad: Leading tile-maker Regency
Ceramics Ltd has declared lock out of its manufacturing
facility at Yanam in the Union Territory of Puducherry
following recent labour unrest that resulted into death of a
senior executive besides a largescale damage to its plant and
machinery.
"The Company has declared lock out of its factory
situated at Yanam in the UT of Puducherry from February 1,
2012, as a result of the unprecedented violence that occurred
at the factory premises causing extensive damage to the plant
and machinery and the death of K C Chandrasekhar, President
(Operations), on January 27," Regency said in a statement.
The labour unrest at Yanam had turned violent four
days ago after the workers went berserk following the death of
union leader M S Murali Mohan, allegedly in police action
outside the factory, and allegedly attacked Chandrashekhar who
succumbed to the injuries.
The company yesterday said that the initial estimates
of loss due to violence are in the range of Rs 150 crore even
as the final estimation is yet to be completed.
Regency Executive Director Satyandra Prasad Narala had
said the company was weighing three options--reviving the
units slowly, relocation of the plant and complete sell off.
He, however, said the company was inclined towards
reviving the plant on its own.
PTI
First Published: Wednesday, February 01, 2012, 17:33