INDIA: Spinning Mill Seeks Mortgage Approval
Mahavir Spinning Mills is to seek shareholders' approval at next week's annual general meeting for mortgages securing a loan. The spinning mill got a term loan of Rs155 crore during the fiscal year 2000-01 from ICICI to expand and modernise its Malerkotla Unit, expand its mercerised yarn unit and set up a new sewing thread unit.
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