Regency chief says tough to reopen firm in Yanam
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After Friday’s violent incidents at the Regency Ceramic Factory in Yanam, the company’s chairman and managing director, Mr G.N. Naidu, said on Saturday that it might not be possible to reopen the factory.
Reacting to the lynching of his nephew and president (Operations) of the company K.C. Chandra-shekar by agitators on Friday, a depressed Mr Naidu said, “It is not possible to run the factory in the prevailing situation at Yanam and I am not even in a position to say what will happen in the future.”
“It may not be possible to reopen the factory as the workers inflicted irreparable damage,” he said, adding, “I established the company in the 1980s and my team and I have always worked hard for the development of Yanam and for the welfare of the workers. For my services they have gifted me the body of my nephew,” he said. It is estimated that the losses after Friday’s rampage amounted to around Rs 150 crore.
Mr Naidu added that he had agreed to all the demands by the union barring one and had told the workers that he would take up the issue after he returned from the US. The workers, however, did not listen. He also said that the company had given increments to the workers nine months back.
Apparently, some of the workers had joined the company only two years back and had started disputes and would not obey their supervisor’s orders. Thus, some of them had been transferred, Mr Naidu said, adding that during legal talks, he had already informed the government that he could not run the factory at present circumstances.
Mr Naidu also faulted the Puducherry police for not protecting the life of his nephew.
Students’ future in jeopardy
G.N. Naidu condemned the workers destroying educational institutions belonging to the Regency Group. “What harm had the students done? I am worried about the future of 600 students,” he said.
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