Rico Auto Industries Ltd decided to merge subsidiary Rico Softech Ltd with the company.
Only Rico Auto Industries, whose Gurgaon plant was the epicentre of the strike after the death a worker in a group clash on Sunday, continued to be under lock-out.
About 1,800 workers at Rico Auto Industries, in Gurgaon near Delhi, ended their almost 50-day strike following an agreement with the management on reinstatement of some employees.
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According to industry body Society of Indian Automobile Manufacturers and Automotive Component Manufacturers Association of India, with demand continuing to be low and factories not operating at full scale, this may lead to temporary excess overheads.
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