Madras High Court has passed a winding up order against VTX Industries on June 23, 2014 in Company Petition no. 151 of 2013. The Company is in process of filing an appeal and taking necessary action before the appropriate court for setting aside the said order.
VTX Industries is a vertically integrated company with a complete range of modern machinery and more than 3,200 employees. In spinning, the company’s 50,000 spindles produce 1,260 tonnes of yarn every year. Weaving equipment ranges from basic shuttleless looms to sophisticated electronically controlled jacquard looms.
