Pearl Engineering Polymers was incorporated in Jul.'92 as a public limited company at New Delhi. In 1995, it commissioned India's first integrated polycondensation and continuous solid polymerisation plant at Kurkumbh, near Pune, to produce high-molecular-weight polyester resins, with an installed capacity of 20,000 tpa. The company produces PET resin, the main raw material for the manufacture of PET bottles and containers. PET resins are made from PTA/DMT and MEG as main input raw materials. The material is food-grade, non-reactive, non-toxic and glossy. It is also chemically resistant and environment-friendly, easily recyclable and does not generate noxious gases on combustion. It is having its plant in Pune, Maharashtra and its installed capacity is 24,840 TPA Commercial prodution of PET Chips project commenced in Sep.'95. During 1996-97, the company has also increased its installed capacity of PET Chips to 20700 TPA. The company has filed the necessary reference with BIFR. A scheme of rehabilitation, involving fresh equity infusion and restructuring of principal. During the year 1999-2000, the BIFR asked the company to submit its revised rehabilitation proposal by January'2001, for its consideration.