Bengal Tea & Fabrics has received an approval for the sale/disposal of its Spinning section comprising of 14352 spindles and related equipments situated at Asarwa Mills, Ahmedabad, Gujarat together with all its tangible assets through Postal Ballot. The net proceeds from the sale will be utilized to repay the existing term loans to reduce interest cost of the Company and for payment of retrenchment compensation. Earlier, the company has decided to close the Spinning section with effect from September 15, 2017.
Bengal Tea & Fabrics is engaged in the business of tea and textiles. The company's principal products/services include black tea, cloth cotton fabrics and synthetic yarn.
| Company Name | CMP |
|---|---|
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| CCL Products (India) | 1099.10 |
| Mcleod Russel | 55.48 |
| Goodricke Group | 171.00 |
| Jay Shree Tea | 87.51 |
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