Futura Polyesters

Futura Polyesters Limited was involved in manufacturing and marketing various polyester products such as Polymer, Preforms, and Polyester Staple Fibre (PSF). Its corporate focus centered on producing and selling specialty products, with a particular emphasis on environmentally friendly green items. However, the company faced a severe financial crisis, leading to the suspension of all its operations from December 31, 2012. To manage this crisis, the company has agreed to sell its land and factory located in Chennai to meet its legal liabilities. The company is also approaching its lenders and banks for a One Time Settlement (OTS) to clear its outstanding debts. Despite its current challenges, the company previously held a strong reputation in the Polyester fibre market, especially for its color fibres.;