Workers Seek Siddharamaiah’s Help To Save Reid & Taylor Factory
Jan 11, 2019
Mysuru: Demanding the intervention of former Chief Minister Siddharamaiah for saving the ailing Reid and Taylor factory in Tandya Industrial Area of Nanjangud taluk, hundreds of employees of the factory staged a demonstration in front of his house in Ramakrishnanagar here yesterday.
Attributing the dismal fiscal position of the factory to a slew of loans taken by the owners to invest in other businesses, the workers appealed Siddharamaiah for help, as their future was in stake.
Alleging that the owners of the factory took huge loans from various Banks and invested it elsewhere instead of using it for the development of the factory, the protesters claimed that since the owners were not serious about repaying loans taken from Nationalised Banks, the factory was on the verge of closure. With Banks having approached the National Company Law Tribunal (NCLT), the Court has appointed resolution professionals to manage the factory, they said.
Vouching for the quality of the products manufactured at the factory which they said was still in great demand, the employees presented a memorandum to the former Chief Minister urging him to intervene for saving the factory, as the fate of 1,200 employees hinged on the factory.
After receiving the memorandum, Siddharamaiah assured them of raising the issue with the Labour Minister and the Factory Management.
Reid and Taylor Factory Employees Association President Jayaram, office-bearers Channegowda, Keshav Kumar, H.S. Jagadish, Mahadevaswamy and others were present.