Bank consortium tightens noose around Garden Silk Mills

Surat | Saturday | 16th March, 2019

Summary:

The manufacturing units of the company are located in Vareli and Jolwa villages near Surat.The company owns popular Vareli Sari brand. The company manufactures polyester chips, polyester filament yarn, preparatory yarn, woven cloth as well as dyed cloth, printed saris and dress material. The future of power loom weavers in Jolwa and Vareli hangs in balance.”Company owners were not available for comments. Many more textile companies will fall in bad loan category in the days to come. Many Bollywood actresses had endorsed the brand.Federation of Gujarat Weavers’ Welfare Association (FOGWA) president Ashok Jirawala said, “The situation in textile business has turned from bad to worse and Garden Silk Mills is a classic example of it..