Insilco

Insilco Limited, a subsidiary of Evonik India Pvt. Ltd., is a public company that was primarily engaged in the chemical manufacturing sector. The company's philosophy emphasizes a strong commitment to values and ethical business conduct to maintain the trust of its stakeholders and investors. Its core business was producing various grades of precipitated silica, designed to meet the specific needs of customers in different industries. However, the company's plant operations have been suspended since October 2019 due to the refusal of a 'Consent to Operate' from environmental authorities. With no realistic alternatives to resume business, the Board decided to initiate a voluntary liquidation process which commenced on June 25, 2021. During this process, the main plant at Gajraula was sold for Rs. 420 million, and the liquidation proceeds are being distributed to shareholders.;