In a first of its kind, over 200 workers of the now defunct Garware Nylons have bought the company's unit in Maharashtra's Ahmednagar district for Rs 6.01 crore at a public auction.
Garware Nylons downed its shutters on August 28, 1996, leaving more than 300 workers at the unit jobless. The workers had moved the Bombay High Court to resolve their settlement issues, following which the court directed an auction in February this year for the unit and the nine acres where it is located.
Immediately after winning the auction, the workers deposited Rs 90 lakh with the court. The court had then specified November 7 as the deadline to deposit the remaining amount. The workers, represented by a Pune-based NGO, Common People's Front (CPF), on Monday deposited the remaining amount with the court and successfully completed the auction process. Interestingly, the workers raised the money through contributions and support of socio-political groups.
"All workers have contributed money to deposit such a huge amount. It is a historic moment for entire Indian workers' community," said Domonic Lobo, president of the NGO.
About their future plans, he said: "We will approach the state government as well as the Centre to get certain incentives to reinstate production. To begin with, we will start the production of packaging material at the unit."
