Indian company’s staff held hostage over salary issue

INDIA has asked Ethiopia to investigate a report that employees of an Indian company, Infrastructure Leasing and Financial Services (IL&FS), have been taken hostage in Ethiopia, a government source said yesterday.

Seven Indian employees of the debt-laden IL&FS company have been held hostage by Ethiopian staff because of non-payment of salaries, according to messages posted on Twitter by those saying they were being held.

An India’s foreign ministry official said India was discussing the matter “on priority” with Ethiopian authorities and the management of IL&FS. “We are doing our best to ensure a settlement of this matter,” said the official, who declined to be identified.

An IL&FS spokesperson in India declined to comment.

The Indian government took control of IL&FS last month after it defaulted on some of its debt, triggering wider concerns about risk in the country’s financial system. The infrastructure financing and development company had over the years developed road, township and water-treatment projects in India and abroad.

Neeraj Raghuwanshi, who said he was one of the seven employees held hostage, has been calling for help on Twitter since last Tuesday.

“Situations are beyond our control, please #help before mishappening,” Raghuwanshi said on Friday in a tweet, calling Prime Minister Narendra Modi and the foreign minister to intervene.

He said the seven IL&FS employees were held in three different locations in Ethiopia. |