Hindustan Composites Updates on closure of Ghatkopar Unit of the Company

Hindustan Composites Ltd has announced that the Closure or the Company's Ghatkopar Unit pursuant to the Order of Labour Commissioner was challenged by the Workmen Union before the Mumbai High Court. The Hon'ble Court directed both the parties for an amicable Settlement. After few deliberations both the parties have arrived a Settlement and the Consent-term was signed between the Management and the Workmen Union accepting the Closure of Ghatkopar Unit with effect from August 02, 2006. The said Consent-term has been accepted by the Hon'ble Court and all the disputes are now settled.

Source : Equity Bulls

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