|V. COMPANY MANAGEMENT AND PROJECT
HISTORY AND PRESENT BUSINESS OF THE COMPANY
The Company was incorporated on May 15, 1990 as a Private
Limited Company vide certificate No.04-13771 issued by the
Registrar of Companies, Gujarat, in the name and style of
Fairdeal Filaments Pvt. Ltd. It became a Public Limited
Company vide a special resolution passed on February 15, 1994
and obtained a fresh certificate of Incorporation on 1st March,
The Company is presently engaged in the business of synthetic
yarn processing, namely in the manufacture of sized yarn. The
plant is located in village Mota Borasara in Taluka Mangrol,
Dist. Surat in Gujarat. The plant has an installed capacity of
980 MTPA. The cost of the project was part financed by GIIC by
way of two term loans aggregating Rs.120 lacs. The Company has
been regular in its payments of its dues to GIIC. As on
30.09.94, the Gompany's outstanding amount of term loan to GIIC
stands at Rs.75.20 lacs and the fixed assets of the Company are
covered under first charge by way of equitable mortgage /
hypothecation to GIIC.
The unit started commercial production from 16th February, 1991
with two sizing machines. The third sizing machine was added
and made operatonal in July, 1993. The plant achieved a
capacity utilization of around 85% in the year 1993-94.
To strengthen and consolidate its position In the market, the
Company has now undertaken a project to expand its range of
products to Include texturising-cum-twisting facilities. The
proposed plant would be located in village Karanj, Tal. Mandvi
of Dist. Surat. The pliant shall have an installed production
capacity of MTPA of lexturisad yarn and 200 MTPA of twisted
yarn.Company does not have any subsidiaries.
2002-Fairdeal Filaments Ltd has informed that the Board of Directors at its meeting held on January 30, 2002 has appointed Mr Hiren M Patel as a Company Secretary of the Company.