|The Company was incorporated on 18th June, 1984 under the name of 'Ras Marketing & Exports Pvt Limited.' The said name of the Company was changed to MANAV YARN PRODUCTS PVT.LTD. w.e.f. 8th August, 1991, subsequently, on 27.2.1992, by a special resolution the Company has been converted into a Public Limited Company as a consequence of which the name of the Company has been changed to MANAV YARN PRODUCTS LTD.
The Company implemented the project of manufacturing 'Twisted Yarn' of 360 Mt. p.a. at Silvassa in 1987 at a total cost of Rs.110 lacs, which was part financed by Gujarat Industrial Investment Corporation (GIIC) and Gujarat State Financial Corporation (GSFC) to the extent of Rs.58 lacs.
The Company commenced commercial production of twisted yarn on September 26, 1987 and achieved productionof 154.653 Mt. The production level increased to 214.94 Mt., 288 Mt. and 296 Mt. for the year ended March 1989, 1990 and 1991.
To carry on the business as manufacturers of Twisted, Texturised, sized and Dyed Polyester Yarn and other man made synthetics and fabrics.
The Management of the Company Vests in the Board of Directors comprising Technocrats and Professionals. Shri Surendra Savai is the chairman and he Managing Directors. Shri Surendra Savai has vast experience of over three decades in manufacture and marketing of Texturised and Twisted Yarn.
During the year. the company undertook expansion programme at a cost of Rs 3.15 crore for installing two ATE-800 texturising machines with Roto.
-Manav Yarn Products Ltd sold its unit situated at Silvassa and the proceeds have been paid to Bank of India, Bullion Exchange Branch, towards the settlement of their dues on a One Time Settlement basis. Hence the company has no activity since the date 10 sep 2003. In view of the huge accumulated losses, the company does not have any funds to commence any other activity.
-Company name has been changed from Manav Yarn Products Ltd to S & T Corporation Ltd.