Gaekwar Mills Share Price

Gaekwar Mills Limited was incorporated on 16 June, 1928. The Company has been engaged in the business of manufacturing Fabrics i.e. Textile industry, however, the said Unit was declared sick and to set up fresh unit, clear all liabilities and pursuant to a Scheme u/s 391 of Companies Act, 1956 sanctioned by Bombay High Court. At present, the Company is into development of 60% of its own land at Bilimora, Gujarat.During the year 2015, some erstwhile workmen had filed three Special Leave Applications (Civil) before the Supreme Court of India challenging various orders of Gujarat and Bombay High Courts in favour of the Company. These SLPs were disposed of by an Order of the Hon Supreme Court on 13 January 2015. In the Said Order of Supreme Court, 4 weeks were granted to workmen association to remove office objections in their earlier appeal filed before Bombay High Court, and further request to Bombay High Court to hear appeal of workmen within the framework of law. The appeal is listed for hearing on 29th June 2015.The Company came out of liquidation during the year 2016 by an order dated 30 June 2015 passed by Hon. Bombay High Court. Gaekwar Mills Sangharsh Committee an one of the alleged association of worker have filed Notice of Motion before Hon. Bombay High Court for recall stroke stay of this order which has been rejected by Hon. Bombay High Court by an order dated 28 July 2016. Nevertheless Directors were allowed to take steps to ensure implementation of Scheme of Compromise/Arrangement sanctioned by Hon. Bombay High Court in September 2009 and subsequently modified from time to time.Pursuant to the Order dated 13 January 2015 of the Supreme Court of India passed in various Special Leave Applications the pending appeal of worker has been restored by Hon. Bombay High Court and the appeal has been admitted by Hon. Bombay High Court on 04 January 2016 without granting of any adinterim / interim relief. Now the appeal is likely to be posted for final hearing and disposal at the convenience of Hon. Bombay High Court.