After twelve years, workers become owners of Garware Nylon

The deadline for the payment was on November 7, but workers decided to make the final payments a few days in advance. This brings an end their struggle of over 12 years after they lost their jobs with the company owing them a lot of money in gratuity.

Out of the 1,200 workers who lost their jobs, around 210 came together under the Common People8217;s Front to bid for the land.

It happened in February, when workers found out that the land was being sold to businessmen for a paltry price of Rs 2.35 crore 8211; this was below the reserve price of Rs 5 crore for the nine acres. When workers protested, the court asked them to get better bidders. This was when they decided to bid themselves.

For many of these workers, raising the bidding amount meant mortgaging a lot of their belongings. However, owing a stake in the company was as much an emotional decision as it was a financial one. Workers expect the company unit to start earning money as soon as they start leasing out the built up office space in the 9-acre land.