BIFR hearing on JK Cotton today

Workers of JK Cotton are unhappy that the JK management has not "complied with the orders of the BIFR", according to union sources.

The workers have expressed their resentment in a letter written to the Board of Industrial and Financial Reconstruction (BIFR). A crucial review hearing on the company's revival plans is scheduled for tomorrow.

The BIFR had chalked out a scheme for the revival of the JK Cotton mills in November 2002.

The scheme had envisaged that the labour commissioner, UP, would resolve the labour/lockout matters within a month of the orders; the mills would be opened by the management in six months, the workers would be redeployed in a phased manner; and properties at Lakshman Bagh and the JK Rayon land in Kanpur and JK House at Barakhamba Road in New Delhi would be sold in two years.

It was reported in May last year that the UP government had relented on the sale of the disputed Lakshman Bagh property by the JK management. But the matter has not moved forward since then.