Vardhman Polytex has received an approval for the proposal of the company regarding the restructuring of debt which has been approved by the CDR Empowered Group of Corporate Debt Restructuring Cell and communicated vide its letter of approval (LOA) dated December 28, 2012.
Pursuant to terms and conditions of the LOA and CDR package need to be implemented within 120 days from the LOA and the master restructuring agreement to be executed between the company and the lenders. The cut off date of CDR package is December 31, 2011.
Vardhman Polytex is engaged in the manufacture of yarn. It is also engaged in cotton spinning and line manufacturing, staple fiber yarn machine combing and re-combing of all types of fibers. It produces various categories of yarns like cotton, polyester cotton blended, synthetic, acrylic and dyed yarns.
