Incorporation on 2nd September 1987. Promoted by Radheshyam Poddar and Sandeep Poddar. Engaged in the business of texturising, twisting, yarn dyeing, etc. Had set up a plant by installing two texturising machines of 216 spindles each at Chinchpada, Dist, Dhule, Maharashtra for processing of art silk yarns. Set up a process house with a capacity of processing 48,000 mts. per day of synthetic fabric with a total project cost of Rs.6.32 crores.
During 1997-98, the company continues its efforts to improve methods of energy conservation and utilisation and doing reseach and development for improvement in shades of yarn and fabrics.
The Company has become a Sick Industrial Company within the meaning of Section 3(1) (O) of Sick Industrial Companies (Special Provisions) Act,1985 as the accumulated losses being in excess of net worth of the Company as on 31.03.1999. Subsequent to this BIFR has appointed IDBI as the operating agency. The declaration of the company as SICK by BIFR is under consideration.