Patna: A group of dealers and suppliers of Kalyanpur Cements Limited (KCL) is planning to meet chief minister Nitish Kumar and deputy chief minister Sushil Kumar Modi to request them to ensure justice to the operational creditors after Dalmia Bharat took over the cement plant located at Banjari in Rohtas.
KCL was declared bankrupt by the National Company Law Tribunal (NCLT) after an aggrieved operational creditor brought it to the bankruptcy court last year.
Dalmia Bharat, the second oldest cement company in the country, bid for it and acquired it earlier this year after lenders approved a debt resolution plan aimed at reviving the entity that used to employ more than 300 people.
The former MLA from Obra in Aurangabad, Satya Narayan Singh, who is heading the group of dealers and suppliers, said: "The dues of operational creditors (suppliers and dealers) of KCL is over Rs 200 crore, but Dalmia Bharat will clear only 4.8 per cent or less than Rs 10 crore. This will be a gross injustice to us."
"The operational creditors are around 500 in number varying from small shops at panchayat-level to sales promoters, raw material suppliers and dealers. The amount due to them varies from as little as Rs 50,000 to Rs 30 crore. The small shopkeepers had given advance to the KCL for cement purchase and this business was their only means of livelihood. They have invested their entire capital in it. They will be wiped out if they don't get their money back," Singh added.
The aggrieved persons had written a letter to Nitish in March this year, demanding state government's help in their plight. They followed it up by meeting industries minister Jai Kumar Singh and apprised him of the miserable condition they have been reduced to.
"We will soon seek appointment to meet the chief minister and deputy chief minister-cum-finance minister to explain the state of affairs and beg them to ensure justice to the operational creditors," the former Obra MLA said.
The group of dealers and suppliers of KCL alleged that the Bihar government was planning to provide a rehabilitation package of Rs 300 crore to Dalmia Bharat for revival and smooth operation of the plant.
