Workers to own Garware Nylons dead unit

The Maharashtra Industrial Development Corporation (MIDC), in a recent statement to the Bombay High Court, has withdrawn its claim over this particular land, following which, the 200 workers will now own the entire Ahmednagar unit of this legendary company.

The workers in February this year had won a bid to buy this unit for Rs 6.01 crore out of which, they have deposited Rs 3.5 crore with the liquidator so far. Garware Nylons was shut 12 years back on August 28 and all workers had suddenly lost jobs.

 

When the nine-acre plot of the company was to be auctioned, all the workers joined hands and with the help of a voluntary organisation Common People's Front, successfully won the bid. Workers, their family members and even widows of the former workers have contributed to raise the bid amount.

The auction was carried out by as per the directives of the Bombay High Court. However, after the workers won the bid, the MIDC claimed its ownership over the particular piece of land leading to a lot of confusion.

Speaking to Business Standard, workers' representative and member of Common People's Front Domonic Lobo said, "We are happy to receive a letter from the MIDC saying, it has withdrawn claim over the Garware Nylons land in Ahmednagar. We are now planning to re-start activities at the company plant from August 28, the day on which, the company was shut 12 years ago."

The workers are now busy gathering the remaining Rs 2.51 crore to be paid to the liquidator to complete the auction process and take the possesion of the land.

The piece of land presently has some old machinery, a big shade and few other equipments. "Once the ownership formalities are completed then we will plan new initiatives at this site," Lobo stated.