The Company was incorporated on July 26, 1989 as Gangotri
Textiles Private Limited. The Company was converted into a
public limited company on January 1, 1993 and received a fresh
certificate of incorporation consequent to the change of name to
Gangotri Textiles Limited dated January 1, 1993.
Shri Manoj Kumar Tibrewal, Managing Director of the Company
along with Shri Mohanlal Tibrewal, his brother, and Shri Ramesh
Kumar Tibrewal, his cousin brother, have promoted the Company.
The Company considers itself as an instrument in serving society
through industry. The Company believes that the following are the
means by which it can achieve this.
.. Meeting the growing needs of the customer in a changing
.. Delivering total customer satisfaction by ensuring quality goods
and services cost –effectively.
.. Providing a satisfactory return on equity investment through
profitable growth in a sustained manner.
.. Fulfilling career aspirations and economic needs of the
.. Maintaining cordial and ethical relationship with each and
associated with the Company.
.. Fulfilling national and social priorities.
HISTORY AND MAJOR EVENTS
Gangotri Textiles Ltd. (GTL) is an existing listed textile company
the business of manufacturing textiles by way of open-ended (OE)
ring spinning and garment manufacturing.
GTL was promoted by the Shri. Manoj Kumar Tibrewal, who started his
business as waste-cotton re-cycler and trader in the late 1980s in
Subsequently, in July 1989, he promoted GTL as a private limited
Later, GTL was converted into a public limited company in January
The first project undertaken by GTL was to set up 4 open end spinning
machines at Palladam Taluk in Coimbatore (Unit I) at an investment of
Crores. GTL’s Unit I became operational in August 1993. In July 1994,
made a public issue of equity shares at par for an amount of Rs.2.10
part-fund the expansion of Unit I.
The second expansion came with the setting up of Sri Dwarka Textiles
at Avinashi Taluk, Coimbatore, which started commercial production in
During the period 1997-98, GTL purchased an existing open end
unit at Kolhapur, Maharashtra (Unit III) and managed to make it a
unit. In March 2000, GTL acquired a 7 years old 16,800 spindle
unit (Palani Andavar Cotton & Synthetics Ltd.) located in Udumalpet,
managed to make it a viable a profitable unit. Later in FY2002, a
program was taken up at the above unit. Post modernization, the unit
at full capacity from FY2003.
In the year 2000, GTL had ventured into the ready-made-garments (RMG)
through its division - Gangotri Apparels, by launching its Tibre
brand of cotton
trousers in Coimbatore. GTL has slowly increased the geographical
marketing its trousers and presently the “Tibre” brand is present in
cities and small towns of the country.
Gangotri had a 100% subsidiary by the name of Gangotri Textile
(GTPL), which was incorporated in the year 1999. In the year 2001,
the merger of
the two companies was proposed by their Board of Directors and was to
effect in accordance with the appropriate provisions of the Companies
The Scheme has been passed under Section 395 of the Companies Act
a special resolution passed at the EGM and GTPL was amalgamated with
parent company, Gangotri, with effect from April 1, 2001. While the
provisions of the Companies Act, 1956 governing the above arrangment
be Sections 391 – 394, the Company has completed the said arrangement
the provisions of Section 395 of the Companies Act, 1956.
Subsequently the Company received a letter No. JP/F-35A/C/8952 dated
2002 from RoC requiring the Company to intimate the RoC about the
of the process and to put up a proposal to have the company's (GTPL)
struck off under Section 560 of the Companies Act. Accordingly, GTPL
application (vide letter No. GTPL/2002/1240 dated April 12, 2002)
560 of the Companies Act to strikeout or deregister its name from the
companies maintained by the ROC.
ROC has by a letter dated January 23, 2006 informed GTPL about its
strikeout or de-register GTPL's name from the register of companies
sub-section 3 of section 560 of the Companies Act on the expiry of 3
from the date of the letter resulting in its dissolution without any
further act or deed.
MILESTONES ACHIEVED BY THE COMPANY
1989 Gangotri Textiles Limited was incorporated on July 26, 1989 as
1992 Converted into a public limited company
1993 Unit I commenced production with 4 O.E frames
1994 Initial Public Offering of GTL involving 21,00,000 Equity
1994 Unit I expanded with 2 more O.E. Frames
1995 Unit II commenced its production with 7 O.E Frames
1997 Took over sick unit viz., M/s. Arihant Spinning Mills –
Maharastra and managed to make a viable profitable unit.
1998 Unit III expanded with 3 more O.E Frames
2000 Launched TIBRE brand trousers at Bangalore and other cities.
2000 Took over a sick unit viz. Palani Andavar Cotton & Synthetic
Udumalpet - Dindugal District, Tamil Nadu and made it one
of its units.
GTL successfully turned around this unit into a viable
profit making unit
(Unit - IV)
2000 Expanded Unit II with 3 more O.E Frames
2001 Processing Unit V for garments at Perundurai –SIPCOT Complex
2002 Modernisation scheme implemented in Unit – IV
2003 Awarded ISO 9001:2000 quality certification for Unit I & II
2004 Installed a captive power generation plant at Unit IV
- Two Wind Mills of 1.65 M.W each installed at Udamalpet for captive
consumption of power.
- Established cotton waste recycling unit (Unit VII) at Coimbatore
-Gangotri Textile has given the Bonus in the Ratio of 1:1
-Company has splits its Face value of Shares from Rs 10 to Rs 5
--Registered Office of the Company has been shifted from 473 / 2
P.K.D. Nagar, Peelamedu, Coimbatore - 641 004 to Old No 42, New No
35, Robertson Road, R.S Puram, Coimbatore - 641 002 .