Muthoot finance ltd., Foreign exchange company

The second conciliatory meeting held in Kochi between Muthoot Finance Ltd management and the representatives of the employees' union affiliated to CITU remained inconclusive on Monday as the finance firm management did not agree to any of the demands of the employees.The meeting was held in the presence of a mediator recommended by the High Court.Earlier, High Court directed the Labour Commissioner to hold an effective conciliatory meeting to resolve the labour dispute between the Muthoot management and a section of employees under the banner of Non-Banking and Private Finance Association (NBPFA).The CITU has decided to continue the strike until the sacked 167 workers are taken back.Labour Department officials said that they would continue the conciliatory talks and the next meeting would be held on January 29. The first meeting was held on January 14.Earlier, the High Court had held that a congenial atmosphere should be created in the company where the employees could ventilate their grievances. The court had appointed advocate Liji J Vadakkedom as advocate observer of the conciliation meeting. The outcome of the meeting will be informed to the High Court by the advocate observer.Justice A. Muhamed Musthaque also directed the police to provide protection to the employees of various branches of the company who are willing to work. The court passed the order on a petition filed by George Alexander, Managing Director of the company, seeking police protection for the employees willing to work in as many as 568 branches of the company.The Judge observed that the court could not ignore the cause raised by the employees.Government Pleader P.P. Thajudeen submitted that though the Labour Commissioner had called conciliation meeting twice, the MD had refused to attend the meeting. The police were providing adequate protection as ordered by the court to ensure law and order.Following the termination of more than 160 workers who have been working with the Muthoot Finance, employees started an indefinite strike on January 2. On December 7, the management had terminated more than 160 employees without even serving a notice and had also declared that 43 branches would be closed down.( With inputs from ANI )

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