Muthoot Finance threatens to close strike-hit branches

Kerala-based Muthoot Finance Company, facing a protest by a section of employees demanding revised salary structure and other benefits, on Tuesday threatened to close some of its branches in the state.

The management of the nationwide network of non-banking financial services company alleged that some vested interests had launched the strike and the frequent strikes affected the operations of some of its branches in Kerala.

The Centre of Indian Trade Union (CITU)-supported striking employees hit out at the management, saying its alleged anti-labour stance was the reason for the agitation.

They had been on strike since August 20.

Meanwhile, dramatic scenes were witnessed at the headquarters of the company when the striking employees prevented the employees supporting the management and senior officials from entering the office.

Managing director of Muthoot Finance George Alexander Muthoot staged a 'sit-in', alleging that people from outside were creating trouble in his company 'without any reason.'