GTN Industries has received its board’s approval to sell Yarn Processing Unit (YPU) and Knitting Unit on slump sale basis as a going concern subject to approval from shareholders, CDR, lenders and other Statutory Bodies etc.
The required approvals as per the provisions of Section 293(1) (a) and 192(A) will be complied through postal ballot process. The company’s board gave the approval for the same at the meeting held on July 12, 2013.
GTN Industries is having vertically integrated manufacturing set-up to produce fine and superfine cotton yarns, grey knitted fabrics, gassed fabrics, organic fabrics, mercerized fabrics and life style garments.
