Sunday, Jan 02, 2005
Sunday, Jan 02, 2005 |
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Pondicherry
By Our Staff Reporter
PONDICHERRY, JAN. 1 . The Indian Bank took possession of a private sugar mill at Ariyur near here today. Informed sources in the bank said the management owed Rs. 27 crores to the bank. The bank initiated the proceedings under the Securetisation Act. A 25-member team of the bank visited the mill and pasted possession notices. A section of mill workers resisted the step and `gheraoed' the bank officials, claiming that the measure would deprive the workers of wages and other payments due to them.
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