NTC Ltd. Rehabilitated - 40 Textile Mills to be revived

摘要

National Textile Corporation Ltd. (NTC) was established in 1968 with the main objective of managing the affairs of 124 sick textile mills taken over by the Government of India in three series of Nationalization Acts. On account of obsolete technology, poor productivity, excess manpower, the company was referred under Sick Industrial Companies Act, 1985 (SICA) in the years 1992-94 before BIFR. BIFR sanctioned Rehabilitation Schemes for 8 subsidiaries in the year 2002-03 and the 9th Subsidiary, viz., NTC (TN&P) Ltd., Coimbatore, was given a separate Revival Scheme by Ministry of Textiles in October,rn2001. The Revival Scheme was modified twice - first in May, 2006 and followed by another modification in September, 2008.