CLC Industries Ltd

CLC Industries Limited, formerly known as Spentex Industries Limited, a RP Goenka Group of Company, was incorporated in November, 1991. CLC Industries was promoted by CESCON and KEC International to set up a 100% EOU to manufacture combed cotton yarn at Baramati, Maharashtra. To part-finance the cost of this project, the company made a Rs 8.8-cr public issue in Nov.'93. The estimated cost of the project, as appraised by ICICI, was Rs 54.81 cr. Name of the Company was changed from Spentex Industries Limited to CLC Industries Limited in July, 2018. Company is engaged in the business of Trading and Production of Yarn. In 2000-01 the company added a new export market in Tunisia. In 1996-97 the company installed Diesel Generating Set of 2.5 MW which enable the consistent power supply to the plant. SIL is now trying to penetrate export market in Bangladesh. Additional 3024 spindles were commissioned during 1999-2000. The company was accredited with ISO 140001 April,2002. The Company's networth was fully eroded and the same has been reported to BIFR. The company has established a new customer base in Europe-Portugal, Spain, Poland, Cyprus, Belgium etc. During the year 2004-05, the Scheme of Arrangement in respect of acquisition of CLC Corporation by the Company and reduction of paid up capital of the Company by an extent of 50% was effective from April 01, 2004. Similarly, CLC Global Ltd. was merged into the Company and as a result, the business of CLC Global Ltd. were transferred to the Company with effect from April 01 2004. Through the Scheme of Amalgamation, the Company issued one equity share of Rs. 10/- each in proportion to one equity share to CLC Global Ltd. Resulting to this, the shares of the said Company got listed effective from 08.02.2006. The Sanand Unit, Ahmedabad acquired in December, 2005 commenced commercial production of cotton yarn with effect from May 02, 2006. Further, the Company acquired equity shares of Indo Rama Textiles Limited (IRTL) plant at Pithampur (Indore) and Butibori (Nagpur) thru' Share Purchase Agreement. It acquired 1,81,70,667 equity shares of Amit Spinning Industries Ltd; which concluded the transaction on 24 July, 2006. Indo Rama Textiles Ltd. (IRTL) was merged with the Company through the Scheme of Amalgamation effective from April 01, 2006. Thereafter, the Company's Ahemdabad unit, started commercial production in May, 2006. Over the few years, company was under Corporate Insolvency Resolution Process till 12th May, 2023 at NCLT, Principal Bench, New Delhi. In FY 2024-25, Company started production from October 2024.