Special Correspondent

Revival of Travancore Rayons Limited

While two of the groups were from the United Arab Emirates, one was from Hyderabad.

KOCHI: The details of balance sheets and other financial particulars of the five companies which took part in the expression of interest for revival of the Perumbavoor-based Travancore Rayons Limited (Trayons) will be handed over to the government by the company on Wednesday.

This was decided by the company’s director board on Tuesday.

The government, with over 35 per cent stake in the company, will select the promoter after examining the credentials of the five groups.

While two of the groups were from the United Arab Emirates, one was from Hyderabad. The remaining two were firms from the locality.

The government will have to speed up the proceedings for the selection of the promoter as it is bound by a court direction to complete the process in six months, sources said.

Trayons managing director Augustine Joseph, Industries Department

Additional Secretary Vijaya Mohan and Deputy Secretary Govindan Nampoodiry took part in the board meeting.

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