Fate of CCI unit in balance
The closed Adilabad unit of Cement Corporation of India (CCI) may be put on auction block if events are any indication. According to S. Vilas, general secretary of the CCI Employees’ Union here, the Appellate Authority for Industrial and Financial Reconstruction (AAIFR), on December 7, dismissed the application seeking its interference regarding the factory’s revival in Government section.
Petition to be filed
Though the union is likely to challenge the decision at an appropriate court of law like the High Court of AP, the AAFIR decision has spelt it out in no uncertain terms that the unit will be privatised.
The Appellate Authority has given directions to sell the cement factory to a party that is already into cement manufacturing. The AAIFR has also made it clear that the group of CCI employees, who have not opted for VRS, be accommodated in the same factory when it is revived. Published under Cement News
