(1.) The petitioner is a Public Limited Company registered under the provisions of the Indian Companies Act, 1956. Petitioner No. 2 is the Chairman-cum-Managing Director of the said Company and petitioner Nos. 3 to 5 are the Directors of the petitioner No. 1 company. Petitioners are the manufacturers of Nylon yarn and its factory and is at Nagpur.
(2.) The respondents are the elected representatives of the employees.
(3.) There is no dispute that the manufacturing activities of the petitioner company are completely stopped with effect from October 1983. According to the petitioner company the production is stopped for the following reasons :