KB & T (KBTL) was incorporated as a public limited company in May '93. It is promoted by KBSH Group, Haryana, and the Singapore-based Thakral Group of Companies, for the manufacture of men's suits and trousers. The company's present name is GIVO Ltd. The company set up a project at Gurgaon, Haryana, with an installed capacity of 2.55 lac pairs pa for men's suits and 1.5 lac pcs pa for trousers, in technical collaboration and financial participation with Manifattura Lane Gaetano Marzotto and Figli (Marzotto), Italy. The project was part financed through a public issue made by the company in Jan.'96. In 1996-97 the company has allotted 1185000 lacs 10% cumulative convertible preference shares of Rs 100 each to the promoters Thakral Group of Singapore (Rs 11 crores) and KBSH Group, New Delhi (Rs 0.85 crores). The company has become potentially sick company as per the provisions and a reference has been made to BIFR.