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The Company was declared “SICK” by the Board for Industrial & Financial Reconstruction (BIFR) on 21.3.2001.  The rehabilitation Schemes submitted by the Company have not been found acceptance to the Secured Creditors and they took over and sold the Assets of the Company during the year 2008-09, under SARFAESI Act, 2002.  The BIFR abated the reference made to it on 16.1.2009.

The Company was earlier involved in manufacturing and processing of fabrics/ yarn. However, since the year 2008-09, the Company is involved in the business of C&F agency and transportation
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