MSPC is established for the benefit of the powerloom weavers and other ancillary workers in the Powerloom Sector under auspices of Agricultrue & Cooperation Department alias Cooperation, Marketing & Textiles Department, Government of Maharashtra Resolution No. PLM-1071/40052/C-2 dated 11.1.1972. MSPC is incorporated under the Companies Act, 1956 as Government Company on 1.2.1972 and 100% Share Capital is held by Government of Maharashtra.
Registration No. under Companies : U51504MH1972SGCO15583. Act, 1956.
Authorized Share Capital : Rs. 20/- Crores.
Paid up Share Capital : Rs. 1377.30 Lakhs.
Main objectives of MSPC :
• To supply improved equipments and accessories required for Power loom Industry.
• To supply raw materials required for the Power loom Industry [as per 1].
• To assist in the marketing of products of the Power loom 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 Power loom Industry as per .
• To raise finance for the above purposes by issue of Share Capital, Debentures, Bonds, or by rising loans or accepting deposits with or without 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 Power loom 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 kind 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.