Regency Ceramics suffers Rs.600 Cr loss in Friday’s mayhem

January 28, 2012 14:31
Regency Ceramics suffers Rs.600 Cr loss in Friday’s mayhem

Regency Ceramics Chairman Mr GN Naidu today charged some political forces of instigating attacks on the factory on Friday.

Addressing a media conference in Kakinada, he said there was certainly a political hand behind the destruction, arson and looting in the company premises and demanded a CBI probe into the incidents of Friday.

“The attacks are politically motivated and the facts can be brought out by a CBI investigation,” he said. Naidu visited the hospital where postmortem was conducted on the body of Mr Chandrasekhar, vice-president of the company, who was killed in the attacks by the enraged workers.

Enraged workers attacked and killed Mr Chandrasekhar, a close relative of Naidu, after their union leader Mr Muralimohan was allegedly killed by the police excesses.

Naidu said he started the factory with an investment of Rs.700 Cr and the company suffered a loss of Rs.600 Cr in the yesterday’s attacks. “Nothing is there except hordes of ash in the company after the Friday’s mayhem,” he said.

The future of 1200 workers and 2500 students is in jeopardy because of the violent incidents, he said. (JUBS)

If you enjoyed this Post, Sign up for Newsletter

(And get daily dose of political, entertainment news straight to your inbox)

Rate This Article
(0 votes)