Amit Spinning Industries has decided to shutdown the manufacturing unit of the company situated at Kolhapur in state of Maharashtra on temporary basis. This step has been taken due to financial constraints.
The board of directors at their meeting held on May 27, 2015 has approved for the same. The management is trying its level best to find ways to resume manufacturing.
Further, an understanding has been reached between the management and the union of employees that the company shall pay only 50% wages / salary during May 20, 2015 to June 19, 2015, because of negligible or no-production duration.
