Global poultry firm flees J&K, managers get Qaeda 'threat'
Barely six months after its entry into the state, poultry multi-national Japfa Confeed India Limited (JCIL) fled Jammu & Kashmir.
By Masood Hussain, TNN |
SRINAGAR: Barely six months after its entry into the state, poultry multi-national Japfa Confeed India Limited (JCIL) fled Jammu & Kashmir, leaving behind a few thousand unattended chicks and a case of fraud against its top executives. It also conveyed termination of the agreement with its local partner citing security reasons.
JCIL had entered into a tie-up with Srinagar-based Tramboo Poultries (TP) in February last under which the latter’s infrastructure would be leased out for 36 months. Market insiders said JCIL was planning to offer day-old chicken, feed, veterinary care to farmers and finally buy back the produce.
JCIL is actually the India operations of Singapore-based US $1.5-billion Japfa Comfeed International. Kashmiri Pandits were holding all its managerial berths. TP had leased out its poultry unit in Pulwama to JCIL.
On November 27 night, the entire JCIL staff managing TP’s infrastructure fled without informing them.When contacted later, JCIL executives said some armed men from al-Qaeda had entered the premises. Now, TP has approached the court, as JCIL owes it Rs 1.08 crore.
JCIL had entered into a tie-up with Srinagar-based Tramboo Poultries (TP) in February last under which the latter’s infrastructure would be leased out for 36 months. Market insiders said JCIL was planning to offer day-old chicken, feed, veterinary care to farmers and finally buy back the produce.
JCIL is actually the India operations of Singapore-based US $1.5-billion Japfa Comfeed International. Kashmiri Pandits were holding all its managerial berths. TP had leased out its poultry unit in Pulwama to JCIL.
On November 27 night, the entire JCIL staff managing TP’s infrastructure fled without informing them.When contacted later, JCIL executives said some armed men from al-Qaeda had entered the premises. Now, TP has approached the court, as JCIL owes it Rs 1.08 crore.
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