Muthoot Finance MD attacked amidst employees' stir

Managing director of leading gold financing firm Muthoot Finance, Mr. George Alexander Muthoot, was injured following stone-pelting at his car, alleged by employees on strike, at Kochi in Kerala on Tuesday.

Mr. George was admitted to a private hospital in Kochi with head injuries. His condition was stated to be stable.

While Muthoot Finance management representative alleged that CITU 'goons' pelted stone at the managing director as part of the ongoing strike by employees, CITU leadership denied any role in the incident.

The incident occurred while the managing director and employees of the firm's head office in Kochi were proceeding to the office in convoy with police protection as there were attempts to block the employees from entering the office on Monday. A stone pelted by an unidentified person hit Mr. George after breaking the windshield of his car.

The CITU-backed Non-Banking and Private Finance Employees Association of Muthoot Finance employees resumed an indefinite strike alleging that the management did not implement the assurance given during conciliatory talks initiated by the government in October last. A 52-days long stir by employees was called off in October last following the assurances.

Mr. Alexander had earlier said that the 300 odd branches in Kerala would be shut down if the strike affected the business. The firm reportedly initiated steps to shut 43 branches and terminate about 165 employees.

Meanwhile, Kerala Labour Minister T P Ramakrishnan said that the management was provoking the employees by even keeping off from talks.