Board of Bengal Tea & Fabrics decides close spinning section at Asarwa Mills

At meeting held on 14 September 2017

The Board of Bengal Tea & Fabrics has decided close the Spinning section comprising of 14352 spindles and related equipments situated at Asarwa Mills, Ahmedabad, Gujarat together with all its tangible assets w.e.f. 15 September, 2017. The net proceeds from the sale will be utilized to repay the existing term loans to reduce interest cost of the Company and for payment of retrenchment compensation.

Powered by Capital Market - Live News