Mail News Service
Jamshedpur, Dec 3: The long and uncertain wait of hundreds of workers of Incab Industries Limited finally came to an end as the National Company Law Tribunal (NCLT), Kolkata Bench today, approved the resolution plan for the revival of the once-prestigious cable manufacturer.
The order marks the close of a 25-year-long struggle, one that began when the company slipped into sickness and was referred to the erstwhile Board for Industrial and Financial Reconstruction (BIFR) in 2000.
For the employees in Jamshedpur, who have spent decades battling uncertainty, the NCLT’s decision has brought a deep sense of relief, hope, and renewed dignity.
Incab Industries, once a name synonymous with high-quality cables and infrastructure solutions, had been lying non-operational for nearly a quarter century.
What was once a vibrant manufacturing unit in Jamshedpur gradually turned into a symbol of administrative delays, legal entanglements, and industrial decline.
The unit’s shutdown not only impacted production but also pushed employees and their families into prolonged hardship.
Salaries stopped, social security benefits stalled, and the workers’ struggle for survival became an everyday reality.
Over the years, they explored every available legal and administrative forum to keep their hopes alive.
The breakthrough has now come through a resolution plan submitted by the Vedanta Group, owned by industrialist Anil Agarwal.
Vedanta’s proposal, valued at approximately Rs 545 crore, has been accepted by the NCLT after detailed hearings and evaluation.
The plan outlines a structured roadmap for reviving operations, clearing pending liabilities, and investing in modernizing the manufacturing infrastructure.
For a company that once stood at the forefront of India’s industrial growth, such a revival blueprint signals the possibility of a true turnaround.
Workers in Jamshedpur, many of whom spent a major part of their careers waiting for the plant to restart, expressed collective joy over the order.
Employees described the NCLT ruling as “a new sunrise” after decades of darkness. For them, the verdict is not just a legal closure—it is an emotional victory and a signal that their fight has not gone unheard.
The revival plan’s approval also holds significance for Jamshedpur’s industrial landscape.
Incab, at its peak, contributed substantially to the region’s manufacturing output and supplied cables to major power, telecom, and infrastructure projects.
While the NCLT order is a major milestone, the road ahead involves crucial steps.
The implementation of the resolution plan will include settlement of dues, reopening of facilities, compliance with corporate procedures, and phased resumption of production – apart from Jamshedpur the company also has a manufacturing facility in Pune.
Experts believe the process could take several months, but the biggest hurdle—legal clearance—has finally been crossed.
The Vedanta Group’s entry also brings financial muscle, technological capability, and a track record of turning around distressed assets, which boosts confidence in the company’s future.
For Incab’s employees, the next steps involve verification of service records, settlement of past dues, and clarity on future employment structures.
Worker unions have expressed willingness to cooperate with the new management, while urging for a transparent and humane approach in the transition phase.
Many retired employees hope to receive long-pending benefits and settlements that have been stuck for years due to legal complications.
