EXPRESSION OF INTEREST
Expression of Interest (EOI) is invited from reputed companies, firms, consortium of
companies etc. having financial and technical capability, for take over-cum-revival
of M/s Travancore Rayons Ltd., Perumbavoor, Kochi, Kerala, a Rayon & Cellulose
Film manufacturing company, which remained closed from July 2001, which is
proposed for OTS. The new promoter has –
i. To settle all present liabilities of the company upto Rs. 219 crores. This
includes dues to Banks/ Financial Institutions/ Public Deposits/
Debentures/ Employees/ Statutory Bodies and other Creditors.
(Banks have agreed to a generous OTS and the State Government will
assist for arriving at an OTS settlement with Financial Institutions.
Dues to the State Government and statutory bodies of the State
Government shall be waived on a case to case basis.)
ii. To settle the existing dues to employees and to assure continuous future
employment to all existing employees.
iii. The existing factory shall be run while the available residual land may be
utilised for any other pollution-free industrial purpose with the approval
from the state government.
iv. The total revival package should be finalised before 15th June 2009.
Further details can be had from The Managing Director, The Travancore Rayons
Ltd., Rayonpuram P. O., Perumbavoor, Ernakulam District, Kerala – 683 543 ( Tel.
No. 0484 – 2522943 / 2522382 ) , against request and on a non-refundable payment
of Rs. 5000/- (Rupees Five Thousand Only) by DD in favour of The Travancore
Rayons Ltd., drawn on Union Bank of India payable at Perumbavoor. The
interested bidders can visit the factory between 11 a.m. and 3 p.m. on any working
day till 14.3.2009. Details can also be had from the web site of KSIDC, K-BIP and
Director of Industries and Commerce, Govt. of Kerala.
Those who are interested may submit their EOI in a sealed cover so as to reach the
office of the Managing Director in the above address on or before 3.30 p.m. on 16th
March 2009 – in the above address, along with EMD of Rs. 1 lakh (Rupees One lakh
only) by DD in favour of The Travancore Rayons Ltd., drawn on Union Bank of
India payable at Perumbavoor, by registered post. Those who download the free
details from the web sites should submit additional DD for Rs. 5000/- along with the
revival proposal. The EMD will be refunded to the unsuccessful parties on
finalisation of the EOI.
EOI received beyond the prescribed time will not be entertained. The EOI will be
opened at 4 p.m. on 16th March 2009, in the presence of the available participants or
the duly authorised representatives.
The Management reserves its right to accept or reject the EOI, fully or partly,
without assigning any reason whatsoever.