Kolkata, Oct 14 () Job loss of about 600 people, including blue collar workers and white collar employees, are feared owing to possible liquidation of cable manufacturer Nicco Corporation after the lenders rejected the revival package.
“It is sad to see that such an old company is facing possible liquidation. There is job loss fear of around 600 people at the two factories at Shyamnagar in West Bengal and Baripada in Odhisa”, non-executive Director of Nicco Corporation Shiv Siddhant Kaul told .
The Nicco Corporation, the first company to be referred to the National Company Law Tribunal (NCLT) after the BIFR was scrapped, had earlier disposed off its other two units, the projects and biotech divisions.
Kaul said that the …
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