Cement Corporation of India Limited (CCI) is a sick BIFR (erstwhile) referred company. As per the revival plan, as approved by the Government and sanctioned by erstwhile BIFR, seven non-operating units of CCI including Adilabad are envisaged to be closed and sold out. Accordingly, all the non-operating units except Adilabad unit have already been closed. The closure of Adilabad Unit could however not be effected due to interim orders passed by Hon’ble High Court of Andhra Pradesh to maintain status quo.
In the meantime, the Hon’ble High Court of A.P. has dismissed the W.P. No.5487 of 2007 filed by CCI Employees Union, Adilabad Cement Factory, Adilabad, AP (now Telangana State) and the matter has been decided in favour of CCI for closure of Adilabad unit. Accordingly closure Notice for Adilabad Unit has been issued.
Further, CCEA in its meeting held on 27.10.2016 has approved the strategic disinvestment of the non-operating Units of the CCI. Accordingly, the process of disinvestment of the non-operating units of CCI has been set in motion as per Department of Investment and Public Asset Management (DIPAM) guidelines.