The Indian Card Clothing Plans To Shut Down Operation At Pune Factory
2018-04-19 Sick Units Textiles & Textile Products Western India
The Indian Card Clothing Company Limited has entered into a Memorandum of Understanding (MOU) on the 18thof April 2018, with its Labour Union for permanent discontinuation of the operations at its factory situated at Pimpri, Pune. This mutual decision has been necessitated due to the continuous operational losses at the Pimpri factory for a period of last 4 to 5 years. The company shall, in accordance with the terms of the MOU, undertake to pay the dues to the unionised employees in full and final settlement. There is no disruption, in the manufacturing operations at the Nalagarh factory of the Company.