Gujarat Perstorp Electronics

Gujarat Perstorp Electronics Ltd. is a company whose sole business segment involves manufacturing and dealing in Copper Clad Laminates for industrial use. The company aimed to consistently innovate its technology, which was originally imported in 1992, to meet its customers' requirements. Its operations were severely affected by sluggish demand and unremunerative prices resulting from continued cheaper imports. The Board of Directors concluded it was not possible for the company to make its net worth positive in the foreseeable future. Consequently, the company was referred for action under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985. With accumulated losses reaching Rs. 2890.45 lacs, the company permanently closed its operations from February 1, 2004.;