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Tamil Nadu
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Chennai
Terminal benefit claims distributed
Special Correspondent
CHENNAI:
About 2190 workers of Standard Motors, which was wound up in 1996, have been benefited by the services of the Tamil Nadu Mediation and Conciliation Centre with the Chief Justice of the Madras High Court, A.P. Shah, distributing terminal benefit claims here on Thursday.
The company was closed in April 1994 throwing the workers out of employment. It was ordered to be wound up in October 1996. Since then, workers had been awaiting a settlement of their terminal benefits. Later, following the intervention of the Company Court and a Division Bench presided by Justice P. Sathasivam, the property was sold for Rs.154 crore. With the intervention of the High Court, particularly the Company Judge Justice Chitra Venkataraman, workers were given Rs.30 crore as an interim measure.
The Chief Justice said it was a sad reflection on the system that it took nearly nine years to effect sale of the company's assets. He complimented Sriram Panchu, secretary of the mediation centre, and others concerned for bringing in an early settlement of the claims through the centre. He said Justice Chitra Venkataraman not only referred the case to the mediation centre but also monitored its progress.
Ms. Chitra Venkataraman said alternative dispute resolutions had become centres of support to the cause of speedy justice.
K.E. Venugopal, General Manager, Indian Overseas Bank, said the bank would donate Rs.15 lakh to the mediation centre.
V.L. Jayaraman, working president of Standard Motors Employees Union, Mr.Sriram Panchu and M. Govindaraj, mediator, were among those who spoke.
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