Kanpur: CBI team has raided 6000 crore defaulter Shri Laxmi Cotsin in Kanpur. The CBI team is investigating at the headquarters at Krishnapuram and the plants at Malwan. At the same time, MD MP Aggarwal is treating his wife at Escorts Hospital.
Srilakshmi Coutines is headquartered in Krishnapuram and plants are located in Fatehpur, Haryana, Noida, Uttarakhand. Talks were on with two foreign companies to acquire Sreelakshmi Cotsin, who was declared a defaulter three years ago, but after their refusal, well-known Maharashtra company Welspun expressed interest. It didn’t work here either.
Srilakshmi Cotsin is the third company in Kanpur after Rotomac Global and Frost International but the largest company in terms of defaulting amount. In 1993, the foundation of Srilakshmi Cottons Limited was laid in Kanpur. Initially made several defense products apart from bulletproof jackets. Build blast proof vehicles. In 2005-06, the company ventured into the production of denim fabric. For this, a loan of about Rs 85 crore was taken from banks. If the work was successful then units were set up in Roorkee and Haryana also. In 2006 the company doubled its production capacity. In 2010, a blueprint for the production of technical textiles was prepared with an investment of Rs 693 crore from the central bank, Rs 200 crore from the equity market and Rs 100 crore from its side.
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