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NTC used to have 25 mills in Mumbai. Apart from the revival of these three, it has taken the joint venture route to redevelop India United Mills No 1, Apollo Mills and Gold Mohur Mills, in south-central Mumbai. These mills were closed after NTC got approval from the Board for Industrial and Financial Reconstruction.
The mills were not functioning and the workers did not receive even the 50 % wages for October and November. The All India Co-ordination Committee of NTC trade unions would meet here on January 4 ...
About NTCL. National Textile Corporation Limited, (NTC) is a schedule "A" public sector company under the ambit of Ministry of Textile, Government of India, engaged in production of yarn and fabric through its 23 mills in operation, located all over India with 8.2 lac spindles and 408 looms producing around 550 lac kgs of yarn and 200 lac meters of fabric per annum.
NTC has nine mills situated in prime locations of the country's financial capital, including Prabhadevi, Worli and Lower Parel. The total area of these mills comes to nearly 60 acres. The price of land in Mumbai is very high. And it is especially higher in these areas, ranging between Rs 80 crore and Rs 100 crore per acre, an analyst said.
Mumbai had 56 textile mills that occupied a staggering 600 acres of land and employed more than 2.5 lakh workers. ... "The government can start …
, India's largest real estate developer, has decided to sell its prized asset, the 17.5 acres NTC Mill land in central Mumbai, which bankers estimate would fetch between Rs 3,000 crore and Rs 4,000 crore that will make it one of the biggest land deals in the country. The company that bought the land for Rs 702.2 crore in 2005, has started the process of …
The four mills in Mumbai fetched NTC Rs 1,160 crore. The Delhi land is believed to be sold to the M2K group at Rs 68 crore. However, when the Coimbatore lands came up for sale, of the three bids ...
Over the past decade, NTC always invited bids from prominent builders while disposing of defunct mill land and earned Rs 2,300 crore from five properties in central Mumbai.
Lodha Developers' Rs 657.9-crore bid for the 10.3-acre Finlay Mill property in central Mumbai has not been cleared by the asset review committee of the National Textile Corporation (NTC). 24 Jul, 2009, 03.07 AM IST
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