Regency Ceramics Limited (RCL) chairman, GN Naidu, has sought an inquiry by the Central Bureau of Investigation (CBI) into the incidences of violence, arson, looting and murder of RCL president (operations), KC Chandra Sekhar, at Yanam in the Union Territory of Puducherry where its manufacturing unit is located.

Addressing a press conference here on Tuesday, Naidu said about 400 workers of RCL “encouraged and aided by outside anti-social elements” indiscriminately attacked employees attending to duty besides torching the plant and machinery, company trucks and buses and killing a key executive.

Also Read   Related Stories News Now - Damage due to violence estimated at Rs 150 cr: Regency Ceramics - Labour unrest in Regency Ceramics turns violent - Yanam: Trade unions call for bandh on Feb 2

Also Read   Related Stories News Now - Markets end flat, weakening rupee weighs - Barclays to sell $6.1 bn BlackRock stake - Rupee tumbles to all-time low of 55.03 - Putin puts stamp on new Russia government - Chargesheet filed against Yeddyurappa in land scam More

According to Naidu, the situation at RCL took a serious turn last week when some employee representatives forcibly stopped workers from entering the factory premises. This resulted in violence and commotion and what followed was a gruesome attack on the employees, arson and looting.

Apart from RCL plant, he said, a packaging unit, several trucks and furniture, office equipment and records of a school and junior college belonging to the Regency group were damaged.

He said the extent of damage was yet to be ascertained. According to preliminary estimates of insurance companies, the loss could be over Rs 150 crore. The company has an insurance cover to the tune of Rs 500 crore.

Earlier, honorary president of the RCL workers union and Congress MP, Harsha Kumar, also sought a CBI probe into the incident in which RCL union leader, Murali Mohan, also reportedly died.

Naidu, however, said Murali Mohan was dismissed from employment about 8 months ago on grounds of insubordination and indiscipline. RCL workers wanted him to be reinstated but the management did not.

Established in 1984, RCL, which has an employee strength of 1,200, had been incurring losses for the past six years. The promoters stated that they had infused more than Rs 21 crore during this period to keep the operations going.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end flat, weakening rupee weighs - Barclays to sell $6.1 bn BlackRock stake - Rupee tumbles to all-time low of 55.03 - Putin puts stamp on new Russia government - Chargesheet filed against Yeddyurappa in land scam

Tags : Regency Ceramics | GN Naidu | KC Chandra Sekhar | Murali Mohan |   Read Business news in  Advertisements -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Journey on, We are by Your Side. Click here to know more -  The Best Seller is Also the No. 1 in Mileage. Click here -  2 Lac Apartments, 1 Lac House / Plots. Click here -  One Partnership Endless Possibilities. Click here to know more -  A Brand New Server at a Price That Fits Your Budget. Click here -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  Learn How One City is Running on FOOD SCRAPS. -  Helping doctors detect diseases earlier, saving costs & extending lives. -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More