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Cabinet decision on TRL by June

By Our Staff Reporter

KOCHI MAY 30. A decision on the revival of Travancore Rayons Limited (TRL), now under a lay off, is expected in the first week of June. The panel of Ministers looking into the proposals from a private promoter for the revival of TRL met in Thiruvananthapuram on Wednesday and their recommendations are expected to be placed before the State Cabinet immediately.

The meeting, held in the chamber of the Industries Minister, P. K. Kunhalikutty, was attended by the Ministers for finance, revenue, forests, education, labour and transport, sources said on Thursday.

The promoter of Dinosaur Industries Limited (DIL), the company which has put up the revival proposal, was also present at the meeting, said the sources.

"We are expecting a positive decision and that too within a week,'' said the sources.

They also indicated that there may not be any further clarification sought from the private promoter who had put up his proposals more than two years ago.

A quick decision on TRL is imperative because the issue of reviving the rayons unit is expected to come up before the Kerala High Court on June 13.

The matter has been taken to the High Court after the Board for Industrial and Financial Reconstruction (BIFR) and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) had both rejected the plea by company management and Kerala State government for more time to put up a viable revival proposal. Meanwhile, the Rayons Samrakshana Samithy, a combine of trade unions at TRL took out a propaganda march throughout the Perumbavoor area on Wednesday to create awareness about the plight of the 1,500 workers on the rolls of the rayons company.

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