Arshiya says business as usual amid strike

Speculation intensified on what’s happening at Arshiya International on Wednesday, even as protests continued at its 165-acre campus in Sai Village, 25 km from Panvel, with sacked staff reiterating allegations.

The company, however, denied it all, saying everything’s above board and it remains ‘business as usual’.
“Arshiya has created huge logistics infrastructure assets in western and northern India, including pan-India rail assets. All of these assets are operational,” it said in a statement.

Meanwhile, shares of the company crashed 20% to Rs97.40 on Wednesday.
A senior official of the company, who was shown the door, alleged Arshiya's financial condition was crippling its operations.

\"Recently, a major bank stopped disbursal of sanctioned loans too,\" this person said.
A third ex-employee claimed several vendors are frequenting the Arshiya office for payment, adding that overheads and dues are soaring.

DNA Money could not independently verify any of these claims.
They claimed the reason why employees turned aggressive on Tuesday was because "the management had used foul language" and gave termination letters without any prior notice.

\"Many employees were asked to leave their laptops behind while leaving work -- which they usually carry home. So many had a premonition of what was coming," said a staffer.
An official at the Panvel office of Arshiya told DNA, requesting anonymity that."other staff have been entering the premises at 10 a m and leaving at 6 p m, but are not seen working as they are expected to.”

Asked if the striking employees are attached to some union, this person said there is no union at the facility.