Jun 13, 2011, 09.06 PM IST
Haryana government on Monday said the dispute between management of Faridabad-based Clutch Auto Company and its workers has come to an end, with the mediation of state minister for Labour and Employment Shiv Charan Lal Sharma.
Workers of the Company had been on strike since June 3 under the banner of Clutch Auto All Employees Union, seeking increment, cash in lieu of leave and LTC, etc, said an official release issued on Monday.
On the persuasion of the Labour and Employment Minister, the management of the Company has accepted the demand of the workers and consequently workers have also called off their strike, it said.
The work has started in the company, which is manufacturer of clutches, as usual, it further said.
Satpal Singh Yadav, President, Clutch Auto All Employees Union said workers of the company had to go on strike on June 3 under the banner of Union due to non-acceptance of their long-standing demands by the management.
In the meantime, the workers appealed to the Labour and Employment Minister, Shiv Charan Lal Sharma to use his good offices in resolving this dispute.
Understanding the difficulties of the workers, the Minister immediately took steps to resolve this problem. He convened the meeting of the management of the company and the office bearers of the Union at his residence and succeeded in persuading both the parties to reach an agreement.
Both the management and the leaders of Union are satisfied with the agreement, release claimed.
Clutch Auto stock price
On December 10, 2013, Clutch Auto closed at Rs 13.12, down Rs 0.33, or 2.45 percent. The 52-week high of the share was Rs 28.30 and the 52-week low was Rs 12.10.
The latest book value of the company is Rs 85.73 per share. At current value, the price-to-book value of the company was 0.15.
Action in Clutch Auto
Video of the day
Dec 10 2013, 11:21
- in FII View
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.