Gangotri Textiles

Gangotri Textiles Limited is a public company that was engaged in the textiles industry but has ceased all manufacturing activities. The company is committed to upholding the highest standards of ethical conduct throughout the organization as part of its corporate philosophy. With no revenue source, the company is financially sick and its main activities are limited to complying with statutory requirements. During the year, the company had zero turnover as all its manufacturing units were sold by its lenders. As a result of its financial situation, the company has initiated a Corporate Insolvency Resolution Process before the National Company Law Tribunal. Lenders recovered Rs 191.05 crores by selling the company's assets via e-auction, though a large sum remains to be settled.;