1. Mahalakshmi Textile Mills Limited, Pasumalai, Madurai, is a company registered under the Companies Act, 1956. It is a textile mill. It employed about 900 workmen.

2. The company went into bad weathers from the year 1985. It faced severe financial crisis and there were dues to the statutory bodies, like Employees' State Insurance Corporation (for short 'ESI'), Employees' Provident Fund Organization (for short 'EPFO'), the Commercial Taxes Department of the State Government, the Tamil Nadu Industrial Investment Corporation (for short 'TIIC') and various banks including Punjab Nation Bank (for short 'PNB'), Indian Bank, ICICI Bank Limited, etc., The Company owed huge amount towards salary, statutory and other benefits to the workmen and also the employees of the Co- operative Society.

3. The company owns vast extent of lands and other properties at Madurai as well as Kodaikanal. The textile mill with its surrounding area is situated in about 15 acres of land worth about several crores of rupees. The company owns a guest house in Madurai town that would also fetch several crores. The company also owns an extent of 3.95 acres in old survey No.25/6/4 and 25/6/5 and new Town