|The Company was incorporated on 23rd November 1993 as a Private Limited Company under the name of Sarla Polyester Pvt. Limited. Subsequently converted into a Public Limited Company vide Special Resolution passed on 24th November 1993
The Company commenced implementation of the Project from February 1, 1994 and purchased the Land at Silvassa on February 3, 1994 and has taken effective steps for implementation of the project and is therefor now Scheduled to commence Commercial Production by April 1, 1995.
The Company has yet to start commercial operation. The Company has already incurred Capital Expenditure (including Advances to Suppliers) to the extent of Rs. 249 lacs from out of Promoters Contribution.
MAIN OBJECTS OF THE COMPANY
The main objects of the company as set out in its Memorandum of Associatio, are as under :
1. To carry on business of manufacturing, processing, weaving, spinning, doubling, texturising, crimping, twisting, sizing, combing, bleaching, mercerizing, calendering, pressing, warping, dyeing, printing, knitting, otherwise, packing, trading, distributing, storing, dealing, buying, selling, advancing, deal in all kind of yarns including cotton, viscouse, rayon, silk, staple fibre any other kind of manmade textiles including cotton, synthetic, silk rayon, woollen, synthetics and synthetics and synthetic blends both with nature and manmade artificial fibres, polyster, polyamide acrylic polypropelene, polysonic, polymetic, polyacrylic or any other synthetic fibre including weaving or manuufacturing unit either unitary or composite to produce, process, dye print, colader, wash, purify, bleach, weave, spin, textiles, twist, crimp, spin, import, export.
2. To produce, buy, sell, export, import or deal otherwise in all classes of linning cloth, satins and silk or any other type of cloth and make an export house thereof.
SUBSIDIARIES OF THE COMPANY, IF ANY
The company does not have any subsidiary.
-Company name has been changed from Sarla Polyester Ltd to Sarla Performance Fibers Ltd.