Date:09/11/2005 URL: http://www.thehindubusinessline.com/2005/11/09/stories/2005110902250205.htm

Back Spentex acquires Tai textile unit

Our Bureau

NEW DELHI: Spentex Industries Ltd said it has acquired the assets of a Tai Group textile unit based in Ahmedabad for Rs 28.61 crore. The unit's assets had been attached by banks under the Securitisation and Reconstruction of Financial Assets & Enforcement of Securities Interest Act. Pursuant to this, the banks invited offers for sale of the assets.

According to Mr Mukund Choudhary, Managing Director of Spentex Industries, "The CLC Group is undertaking a major expansion." Spentex Industries is the consolidated entity of the CLC Group.