Karnataka General Labour Union, affiliated to AICCTU signed a Memorandum of Settlement with RMC Readymix India Pvt Ltd, one of the group concerns of Mr.Rajan Raheja who is also the owner of a large enterprise including Outlook magazine, on 20 Feb.2009. Mr.Rajan Raheja is also one of the top 100 billionaires in the country who built his empire based on real estate and construction and then spread to every other sunrise industry. The marathon talks between the management union that ran into ten months was facing various hurdles in the process, including the recession. The 3-years agreement for a wage hike of Rs.1980/ including Variable Dearness Allowance assumes significance in the backdrop ofrecession in construction and industry in general and the consequent wage freeze, wage cuts and retrenchmet. Workers will also get the arrears from the date the previous agreeement period came to an end, i.e., for the period from April 2008 to February 2009.

AICCTU Vice-President Com.Shankar signed the agreement along with RMC branch office-bearers Jaishankar, Unit President, G Somu, Secretary, M Narayanaswamy, Vice-President, Stephen, Joint Secretary and M S Thomas, the treasurer.