The company was promoted by Shri Satish Kumar Aggarwal, Sri Anil Kumar
 Aggarwal with their associates. 
 
 Sri Satish Kumar Aggarwal is graduate in Metallurgical Engineering
 from IIT, Kharagpur and an MBA from IIM Ahmedabad with about 20 years
 of business and managerial experience in running their Kumar's
 Group/Associates/Companies/Firms.
 
 Sri Anil Kumar Aggarwal is graduate in Commerce and has more than 18
 years of experience in Marketing, Finance and Administration in the
 Group/Associates/Concerns.
 
 The promoters were engaged in distribution of a Indian made Foreign
 Liquor (IMFL) through a number of firms and companies in the States
 of Andhra Pradesh and Maharashtra.
 
 These Companies/Firms are KUMAR 's LIQUORS & BEERS PVT. LTD., KUMAR'S
 SPIRITS PVT. LTD., COASTAL WINES, NEERAJ WINES, VISHAL WINES AND
 ANDHRA AGENCIES, and they had a combined annual turnover exceeding
 Rs.100 crores for the year 1991-92. Consequent upon the change
 announced by the
 Government of Andhra Pradesh during October 1993, liquor distribution
 has been taken over by the Government and the promoters have
 discontinued their activity.
 
 Kumar's Cotex Limited was incorporated as a Public Limited Company on
 30th September, 1991 with Registrar of Companies, Andhra Pradesh and
 obtained the Certificate of Commencement of Business on 7th, October,
 1991. The Registered office of the company is at Secunderabad in
 Andhra Pradesh. The company is promoted by Sri Satish Kumar Aggarwal,
 Shri Anil Kumar Aggarwal and their Associates. 
 
 KCL was incorporated with the object of setting up a 100% export
 oriented spinning unit with an installed capacity of 26208 spindles
 for the manufacture of 1937 tpa of carded/combed cotton yarn (average
 count 47.8s NE) at Dokiparru Village, Medikonduru Mandal of Guntur
 district in
 Andhra Pradesh. The company took over E O U License of M/s. Ramalinga
 Mills Ltd., without any consideration. 
 
 The project is presently under implementation. The company was
 originally intended to go in for 16% Fully Convertible Debentures
 aggregating to Rs.2,522.30 lacs to Resident Indians and Equity Shares
 aggregating to Rs.307 lacs to NRI's. The approval was obtained from
 the erstwhile Controller of Capital Issues to this effect. 
 Subsequently
 the means of finance was changed with the term loan from IDBI.