Incorporated in 1983, as Phoolan Trading Company Pvt Ltd, the company was renamed as Essjay Synthetics Pvt Ltd in Aug.'86, subsequently to its being taken over by the present management. It was converted into a public limited company in Apr.'93. The company is chaired by R A Gadia. The company plans to add to its activities manufacture of Texturised, Rotoset, and Dyed yarn of different deniers by putting up a Texturising plant with Rotoset attachment in it's existing factory at Silvassa and a yarn dyeing unit at Tarapur, a notified backward area in the State of Maharashtra. The company presently is engaged in manufacturing of Bright Polyester Filament Yarn having 8 Twisting Machines with installed capacity of 450 tpa consisting of 50 tons of 80 Denier and 400 mtons of 150 Denier, out of which 5 Twisting Machines having 1176 Spindles were installed in 1988 and further 1320 spindles were installed in 1992. The processing of Bright Polyester Filament Yarn requires special technique and care. The Company's products have been very well received by its customers and the company does not foresee any difficulty in selling its entire production. During the year 1999-2000, the company was closed due to lack of working capital and consideration of its rehabilitation and revival package by its Banker's Central Bank of India is under process.