Bajaj Auto workers at Chakan plant go on strike
Workmen at the Chakan plant of Bajaj Auto Limited have gone on a strike, thereby affecting production following the management's refusal to allot shares to them at a discounted price.
June 26, 2013 / 09:35 IST
Bajaj Auto Ltd (BAL) today said workmen at its Chakan plant have "stopped coming" to work thereby affecting production following the management's refusal to allot them shares at discounted price.
The company said the workers had earlier given a notice for a stoppage of work at the plant from the morning shift of June 28.
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"The workmen have, however, stopped coming to the Chakan plant from June 25 without assigning any reason for this stoppage," BAL said in a filing to the BSE. The company said it had earlier received a notice from the workmen's union of its Chakan plant; Vishwa Kalyan Kamgar Sanghatana stating that they propose to call for a stoppage of work by all the workmen employed in Chakan plant from the morning shift of June 28. The reason for the strike was "that management had refused to concede their demand that all the workmen working in Bajaj Auto Ltd should each be given an option to subscribe to 500 equity shares of the company at a discounted price of Re 1 per share", it added.
Representatives of the union could not be reached immediately for the strike.
As on March 31, the Chakan plant of the company has an annual capcity of produce 1.2 million units of motorcycles, which include the Pulsar, Avenger, Ninja and KTM brands. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
