- Mysore Lamp Works Ltd., came to an end after 78 years, the public sector was shut since 2002 since the state government failed to work out the revival, the High Court of Karnataka ordered to wind up the company
- As per the Board for Industrial and Financial Reconstruction (BIFR) the court had passed the order in the year 2000 as the company suffered a loss of Rs.93 crore from 1993 to 2002
- Industrial and Financial Reconstruction (AAIFR) authority held the BIFR’s recommendation and the government had issued an order in the year 2000
- As per Justice Ram Mohan Reddy ample opportunities were given to review the company to the State government to restart the company and to float a global tender on January 14th, 2014
- As per observations government propose to launch a technology park project on 22 acres of land but the as per the court the government did not promise to revive the company
- Government will rehabilitate a few of the employees according to law and currently there are 100 employees but at the time of closing there were around 1600 employees
- A writ petition was submitted by the Mysore Lamp Staff and Employees’ Union challenging the closure a single Judge allowed the plea on January 14, 2011, by setting aside the closure order
- Bench then remanded the issue of closure and again to the government for a fresh thought for the reason that the government heard neither the employees nor the union before issuing the closing order
- Bench was not influenced by the BIFR recommendation for the company court to to initiate the winding up process
- Appeal filled by the company is still pending before a division bench
- Read at: http://www.thehindu.com/todays-paper/tp-national/tp-karnataka/high-court-orders-winding-up-of-mysore-lamp-works-ltd/article6259338.ece