Classic Diamonds Suspends Mumbai SEEPZ Operation

Classic Diamonds (India) Ltd. has suspended operations at its Mumbai factory due to labor issues. Operations were stopped on November 21 by court order and the facility will remain closed through December 8, 2011, the company stated.

The factory, which is located in Mumbai’s SEEPZ district, has been facing labor problems for a variety of reasons, Classic Diamonds stated. The company approached the Industrial Court and filed a complaint against the Trade Union and the employees. Classic Diamonds subsequently issued a notice of lock-out on November 21, which the court upheld.

Classic Diamonds imports rough diamonds for processing and export of cut and polished diamonds. The company’s annual turnover is in excess of $100 million, according to its website.

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