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ENS ECONOMIC BUREAU
CALCUTTA, DEC 23: The employees of Philips India Ltd have identified major discrepancies in the proposed deal between the company and Kitchen Appliances India Ltd, a nominee of Videocon International Ltd.
At a press conference on Wednesday, Philips Employees Union president (Mumbai) Kiron Mehta said according to the documents submitted by the company to the Calcutta high court, Videocon is paying Rs 9 crore for buying Rs 21 crore worth of liability. "Philips has stated that the value of the Salt Lake unit is Rs 28 crore and liability of the employees is Rs 21 crore. So, we can say that Videocon is paying Rs 9 crore to buy a Rs 21-crore liability,''.he said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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