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Britannia Industries Ltd , Kolkatta asked to vacate Taratala premises

Calcutta Port Trust ( CPT ) has slapped 15 days notice to Britannia Industries Ltd(BIL) ,Kolkatta to vacate the Taratala premises which has been given to Britannia on lease by CPT since 1947 .This notice is effective from Oct 15 .

Default on rent has been cited as the reason for this action .As per the notice Britannia has not paid its due since 1989 . Against outstanding of Rs 12.0 crore BIL has only paid Rs 3.4 crore this dues includes the penalty on non payment .

Britannia has taken two plot of 45000sqm and another 35000sqm on lease on renewable basis for period of 10 years from CPT . Dispute has arisen as CPT wanted to revise the rent from period of 1967 . The Britannia contested the raise went to High court where the court maintained the raise .

Britannia ,Kolkatta has 200 management staff and 300 workers on the pay roll.

Read complete story source The Telegraph

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