7 Indian employees of IL&FS Ethiopia held hostage by local workers over unpaid wages and pension
- Ministry of External Affairs is going to instigate an investigation over seven employees being held hostage in IL&FS
Ethiopiaby local workers due to non-payment of salaries.
- Cash-strapped IL&FS hasn’t paid taxes and pensions to local workers for nine months.
- Some of the employees reported the matters on Twitter seeking the help of Indian government, politicians and Foreign Ministry
Seven Indian employees working at Infrastructure Leasing and Financial Services Ltd — which defaulted in payments of $12.6 billion — alleged that some of the local workers have detained them since 25 November.
They are being held at three different sites in Oromia and Amhara states in Ethiopia, Bloomberg reported citing a letter by the employees addressed Indian and Spanish ambassadors.
The problem at hand
The issue seems to revolve around the fact that the IL&FS Group canceled some of the road projects which were supposed to be finished by its India-Spain joint venture. Their incompletion spread concern among the local workers according to the Indian employees.
Even the Ethiopian police and local officials are empathetic towards the local employees.
IL&FS Group’s local partner, Ethiopian Roads Authority, refused to take any action until the local workers are paid according to a tweet by Neeraj Raghuwanshi with a screenshot of email mail seeking help.
@GRamnathkovind Respected sir,— Satinder Pal Singh (@Satinde82156961) November 29, 2018
Kindly help my Father @Sukhvin02787804 and there colleagues (Working in ILFS Ethiopia) which are kept hostages from 7 days by Local staff of ILFS Ethiopia due to non payment of salary. pic.twitter.com/Tw3Qumf68B
The firm hasn’t paid both, taxes and the pension of local employees, for nine months because India’s central bank, the Reserve Bank of India, denied sending funds to help them out. The letter adds that following the non-payment, local authorities have kept the company’s employees hostage in an attempt to extort their salaries.
Some employees, claiming that they work in IL&FS Ethiopia, took to Twitter seeking help from the Indian government.
#SOS @rashtrapatibhvn @GRamnathkovind @narendramodi Sir we seven people are hostage by locals in Ethiopia, due to non payments of #ILFS What is employee's fault sir.even we didn't get salary from last 5 months all worked in Ethiopia for #ILFS help please b4 it's 2late #sos #Help— neeraj raghuwanshi (@chota86) November 29, 2018
The Indian embassy in Ethiopia has been following the case and engaging with the local authorities as well as IL&FS management to ordain a solution. The Ministry of External Affairs in India is also looking into the matter.
The Reserve Bank of India just made it a lot easier for the country’s shadow banks to sell off their loans
India’s largest infrastructure lender is selling its renewable energy assets to avoid defaulting on its debts
India’s securities regulator wants to develop India’s corporate bond market — so it has ordered large companies to raise at least 25% of their long-term debt from bond sales
- Top bedsheet designs for single beds
- A timeline of how violent protests in Bengaluru killed three, and led to the arrest of 145 people over a Facebook post
- Lucknow records highest spike of 831 Covid cases in a day
- Low-key heroes of the lockdown - Dishwashers!
- Chennai Super Kings CEO wants MS Dhoni to play with them till IPL 2022