Maharashtra State Powerloom Corporation Ltd. (MSPC)
MSPC is established for the benefit of the powerloom weavers and other ancillary workers in the Powerloom Sector under the auspices of Agriculture & Cooperation Department, alias Cooperation, Marketing & Textiles Department, Government of Maharashtra Resolution No. PLM-1071/40052/C-2[1] dated 11.1.1972.
MSPC is incorporated under the Companies Act, 1956 as a Government Company on 1.2.1972, and 100% Share Capital is held by the Government of Maharashtra.
Registration No. under Companies Act, 1956: U51504MH1972SGCO15583
Authorized Share Capital: Rs. 20 Crores
Paid-up Share Capital: Rs. 19.91 Crores
Main Objectives of MSPC
• To supply improved equipment and accessories required for the Powerloom Industry.
• To supply raw materials required for the Powerloom Industry [as per 1].
• To assist in the marketing of products of the Powerloom Weavers.
• To install and run dye-houses, plants for pre-weaving facilities, bleaching, calendaring, mercerizing, printing, anti-shrink processing and other processing plants required for the Powerloom Industry as per [1].
• To raise finance for the above purposes by issue of Share Capital, Debentures, Bonds, or by raising loans or accepting deposits with or without the guarantee of the Government of Maharashtra.
• To carry on all kinds of agency business relating to the above.
• To undertake the study of and preparation of project reports, feasibility studies and to act as general consultant in Powerloom trade.
• To establish, erect, buy, sell, organize, own, conduct, supervise, manage Spinning and Weaving Mills, and carry on business of Ginners, Spinners, Weavers, Dyers, Manufacturers, Balers, and Pressers of all kinds of fibrous materials and cultivation thereof, tanning, preparing, colouring, dyeing and bleaching processes and purchasing and vending the raw materials and manufactured articles, combing, bleaching, printing, selling and otherwise dealing in all kinds of cloth, textiles, and goods made of fibers.
