NIZAMABAD: The National Company Law Tribunal (NCLT) has ordered liquidation of Nizam Deccan Sugars Limited (NDSL) recently. The State government had 49 per cent stake in the Nizam Sugars.
With the NCLT order, political parties and NDSL employees are all eyes as to how the issue would pan out in the coming days.
Largest sugar factory in Asia, Nizam Sugars was established in 1938 in Bodhan. Later its units were established in several other places. In undivided Andhra Pradesh, the then TDP government as part of development of Nizam Sugars sold 51 per cent stake to a private players.
The sugar factory has three additional units at Bodhan, Metpally and Mumbojipally (Medak).
During 2014 election campaign, the TRS leadership had promised to take over Nizam Sugars if they come to power and develop it. As promised, the TRS government in 2015 issued a GO to continue all the three units of the sugar factory under cooperative sector.
In this backdrop a lay off was declared and all the three units were closed.
The private management of the sugar mill then approached the National Company Law Tribunal (NCLT) in 2017 for liquidation. After hearing both sides NCLT recently gave its verdict in support of the liquidation process.
Agitated over the NCLT judgment, the employees of the sugar factory staged a protest at the factory in Bodhan on Thursday demanding that the State government should take steps to have the NCLT judgment scrapped. The employees further want the State government to absorb them in any other governments jobs and also clear their pending salaries.