DRT's denial of workers' dues triggers stir

The Mumbai-based KSL Industries Ltd acquired the Ichalkaranji-based Deccan Co-operative Spinning Mill (DCSM) and paid Rs 42 crore to the Debt Recovery Tribunal (DRT) for distribution to the DCSM's claimants' dues.

But the DRT's rejection of the DCSM's workers dues to the tune of Rs 22 crore has created discontent among the two thousand jobless ex-workers who have now threatened to launch agitation at the gate of the KSL which has acquired the DCSM.

The Deccan workers are agitating for their dues since the DCSM was liquidated eight years ago and though they claimed for recovery of dues on priority basis,the IDBI claimed its prority and the DRT responded to the IDBI's claim.

The DRT being a statutory body to decide claims of banks and financial institutions is reportedly considered the IDBI's priority of claim instead of that of the workers.

The KSL's manager in-charge of the Ichalkaranji unit Milind Mhatre has pointed out that the KSL is in no way responsible for the Deccan workers' dues as their acquisition amount of Rs 42 crore is deposited with the DRT which is authorised to distribute it to DCSM's claimants, either bankers or workers.The KSL is unnecessarily being made target by the Deccan workers.

The restive workers have however decided to agitate on the issue by way of demonstrations at the KSL's gate, as they are hard-pressed for the last eight years.

During the period, four workers committed suicide and others are under loan burden of the private sector banks and financial institutions whose interest charges are exorbitant and unbearable.

According to one worker, he received loan Rs.30 thousands against advance cheques of Rs 72,000 the difference being the exorbitant interest charged by a private sector financial institution's branch at Kolhapur.

Other workers are equally under loan burden with hope that their claim for the dues will be considered in due course.