Business Daily from THE HINDU group of publications Wednesday, Aug 01, 2007 ePaper |
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Corporate
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Announcements Miscreants causing trouble at factory site: Dunlop
Our Bureau Chennai, July 31 Dunlop India Ltd has said that “miscreants have stormed into its factory site” at Ambattur in Chennai and demolished a portion of the compound wall and claimed a part of the land and raw material storage area as their property. In a statement issued from its headquarters at Kolkata, the company said that those who had moved into the factory site had referred to buying a 60-acre plot from Dunlop a few years ago. They had not considered the plant management’s request on settling the exact location of the plot in “appropriate forums.” A section of the workers had also co-operated with the “infiltrators”. When contacted, Mr V.N. Devadoss, Managing Director, VGN Enterprises, a Chennai-based developer, said that he had bought 61.80 acres from Dunlop for Rs 24.34 crore in his individual capacity. The sale deed had been executed on June 17, 2004. He had participated in an auction called as part of the BIFR process and had won the bid. (Dunlop India, a BIFR company, had then been under the management of the Chabbrias. Mr Ruia had acquired the company towards the end of 2005.) VGN Homes Pvt Ltd is planning to construct an integrated township with 4,000 apartments and modern amenities. The total value of the project on completion would be about Rs 1,700 crore. Work on the project would start 6-9 months after statutory approvals, he said. There had been some problem at the factory site when VGN had started work on clearing the land. The police had also enquired and VGN had established ownership of the property with proper documents, Mr Devadoss said. According to the Dunlop Factory Employees Union, the workers had objected because a five-acre portion of the land fell within the factory premises. They have requested the developer to not demolish any of the structures within the premises to see if a compromise could be arrived between the management and the developers. The total factory area is about 25 acres. The statement, quoting Mr Pawan K. Ruia, Chairman of Dunlop India Ltd, said that the management had moved court for legal intervention.
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