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Higher compensation for Raymond's Thane mill workers
17
Aug '10
There seems to be a probable chance that workers of Raymond's mill in Thane may be provided with compensation at a higher rate, as the company has proposed to review the prior proposal. The mill has shut down for over six months as the company intends to utilize its 126 acres plot for realty development.

The company is intending to utilise its mill plot for realty development, and till a short time ago was unbending with regards to the compensation package offered by it earlier.

The company offered to pay Rs 1.6 billion to its 1,885 workers, those engaged in the mill by way of compensation, but the workers' unions have been clamouring for a compensation of Rs 3.28 billion. The company was then directed by Maharashtra government to offer a feasible sum to the workers. As also the government has cautioned the company that if it fails to do so then it might be nationalized.

Resultantly, the company has undertaken to review its compensation package. But then this could turn out only after the Thane Municipal Corporation provides added floor space index (FSI) for re-establishment of several slums positioned on a part of the company's 126 acres plot.

The Thane Mayor too has summoned a meeting on August 17 to sort out the matter. Amongst those who will attend the meeting include, the State Labour Department, Company management and workers' unions.

Fibre2Fashion News Desk - India

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