The Kamgar Utkarsha Sabha, a workers’ union comprising 2,000 employees of Raymond Group, have approached the Bombay High Court seeking a ban on the proposed housing project to be built at the Raymond factory in Thane after closing it down.
Raymonds is one more company which is cashing in on booming land value in Thane industrial belt to sell off land as real estate. In this case, Raymonds itself is entering the real estate business. The company has 18 units globally. The factory at Thane is the main unit, which is earning a huge profit.
The workers' Union has declared in its petition that changing a business by closing down the existing profitable factory is "illegal, unjust and unconstitutional".
The workers' Union has demanded that if the company is not ready to run the factory, then the government must nationalise it and run it.
The workers have demanded that the company give each of the 2,000 workers a flat measuring 500 sq feet on the same factory premises, in case the housing project is given a green signal by the Central and state governments.
The Union has also declared that it is ready to run the Thane unit by paying its book value to the company, by which it can do any business, including realty.
The union also said that if the government allows the scheme, then the workers should get compensation by way of their entire wage till the respective retirement date. Raymonds acquired the Thane land in 1925.