Seventeen trade unions representing 17,000 employees of Neyveli Lignite Corporation Ltd. (NLC), lignite mining-cum-power generation company in India, on Monday decided to go on indefinite strike from the midnight of July 3 protesting against the clearance given by the Indian government to divest five percent stake in the Corporation, reports said.
General Secretary of NLC Labour Progressive Federation, affiliated to DMK, S. Rajavannian said the strike notice to the management would be issued on Tuesday.
Though it was mandatory to issue strike notice to the management 15 days ahead, all the trade unions at a meeting wanted to commence the strike at the earliest and protest against the Centre's decision, he said.
Tamil Nadu Chief Minister J. Jayalalithaa on Sunday had urged the Centre to reconsider the decision to divest shares in NLC. Various political parties in the state have also protested against the decision.
Trade unions of various political parties including AIADMK, DMK, CITU, PMK and LLF participated in Monday's meeting.
The Cabinet Committee on Economic Affairs (CCEA) last Friday cleared government's five percent stake sale in NLC through offer for sale (OFS) route to meet the SEBI's shareholding norms. The sale would fetch around Rs.466 crore to the Indian exchequer at the current market price.
SEBI has set a deadline of August 2013 for all listed central public sector units to have a minimum ten percent public shareholding.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.