Employees go on the rampage
Source: Hueiyen News Service

Imphal, January 17 2014 : Employees of the Industry Credit and In-vestment Corporation of India today vandalised their office located at Canchipur (near MU main gate) demanding reim-bursement of security deposits and payment of pending month-ly salaries.

Industry Credit and Investment Corporation of India also known as ICICI was set up by one Tonjam Sunil (27) of Lilong Chajing on February 13, 2013 .

Around 300 banking staff were recruited for ICICI and they were made to pay Rs 30,000 to Rs 1.5 lakh depending on their posts as security deposits.

The employees were pro-mised that their security de- posits would be reimbursed after six months.

Talking to media persons at Desam office today, some employees said Tonjam Sunil paid Rs 1500 or Rs 2000 per month even though he promised monthly salary of Rs 10,500 per month at the time of recruitment.

ICICI's registration num-ber and licence number were never disclosed to the emplo-yees.

Since the day it was set up, the corporation has chan-ged its name thrice.

It was first named ICICI Security Limited.

Then it was changed to Financial Channel Partner.

The name was again changed to T Financial MCX.

Moreover, employees were made to deposit Rs 5000 un-der its Gold Plan Policy with an assurance that the amount would be increased to the market price of one mohor of gold.

After six months, the employees were not given any money.

Salaries for the months of October, November and December are still pending.

Sunil and employees struck an agreement on December 17 last that all the pending amounts would be paid soon.

But soon after, Sunil went into hiding.

Aggrieved by Sunil's conduct, the employees today vandalised their office.

They maintained that the corporation cannot function until all amounts owed by Sunil are paid back.

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