Revival hope for Falcon Tyres
News

Revival hope for Falcon Tyres

Mysuru:  With one of the major industries in the city, Falcon Tyres Ltd. on KRS Road, closed for over three years, rendering hundreds of workers and employees jobless, Large and Medium Scale Industries Minister K.J. George, who was in city this morning, held a meeting with all stakeholders at the Deputy Commissioner’s (DC) Office here this noon to discuss the possibilities of reviving the factory.

Soon as the meeting began, Falcon Tyres Employees Union Legal Advisor and Trade Union leader H.R. Seshadri apprised the Minister about the current status of the factory.

Pointing out that the factory, established over four decades ago, is one of the largest two-wheeler tyres and tubes manufacturer in Asia, Seshadri noted that the factory slipped into downslide in 2014, before shutting down in 2015.

Maintaining that the employees were not paid salaries for years and other statutory benefits such as PF, Gratuity, ESI etc., he said that an NCLT (National Company Law Tribunal)Court in May 2018 had ordered the factory owner to restart the factory in 6 months, through an IRP (Insolvency Resolution Professional) process.

Stating that even the High Court, while hearing a petition from the employees, had called for State’s intervention on the issue, Seshadri urged the Government not to allow Liquidation of the factory at any cost.

Seshadri also appealed the Minister to consider a PPP (Public-Private-Participation) model for revival of the factory, as it is a matter of life and death for hundreds of employees.

The Factory Management representatives, who attended the meeting, said that the company on its part has floated a tender for re-starting the factory, setting Oct. 28, 2018 deadline for interested parties.

Asserting that the company would honour the  Court order, they said that necessary initiatives will be taken in this regard.

Higher Education Minister G.T. Devegowda, who also attended the meeting, said that the Chief Minister was serious about the revival of the factory.

Assuring that the Government on its part will take all necessary measures needed for the revival of the factory, he expressed the hope that the issue will be resolved soon.

MLA Tanveer Sait urged the company to pay all arrears due to the employees by disposing off scrap and by other means of revenue.

Tourism and Sericulture Minister S.R. Mahesh, MLAs L. Nagendra, B. Harshavardhan and Dr. Yathindra Siddharamaiah, Deputy Commissioner Abhiram G. Sankar, Industries Department Secretary Gaurav Gupta, former MLA Vasu, industrialist Suresh Kumar Jain, DIC Joint Director Lingaraju, Falcon Tyres Employees Union Secretary Shivanna Gowda and others were present.

July 24, 2018

ONE COMMENT ON THIS POST To “Revival hope for Falcon Tyres”

  1. Rampi says:

    Reviving the Falcon tyres factory in the current site is not desirable. It would make Mysore polluted, mysore will no longer be cleanest city. It is better to move it a few kms away from mysore . Govt should consider alternate employment to the people affected. This will ensure they will get jobs quickly without having to wait for reopen of factory.

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending Posts
ABOUT

Mysuru's favorite and largest circulated English evening daily has kept the citizens of Mysuru informed and entertained since 1978. Over the past 39 years, Star of Mysore has been the newspaper that Mysureans reach for every evening to know about the happenings in Mysuru city. The newspaper has feature rich articles and dedicated pages targeted at readers across the demographic spectrum of Mysuru city. With a readership of over 2,50,000 Star of Mysore has been the best connection between it's readers and their leaders; between advertisers and customers; between Mysuru and Mysureans.