Gaekwar Mills Limited, established in 1928, originally operated in the textile manufacturing sector but declared its unit sick. The company transitioned into developing 60% of its land in Bilimora, Gujarat. Legal challenges have marked its recent history, with significant litigation involving former employees. In 2015, the Supreme Court of India addressed appeals arising from disputes with the Gujarat and Bombay High Courts. Consequently, by mid-2016, the Bombay High Court allowed the company to proceed with its Scheme of Compromise/Arrangement, initially sanctioned in 2009.
The company emerged from liquidation in 2016 following a favorable court order. Despite ongoing legal proceedings, including an appeal admitted by the Bombay High Court in 2016, Gaekwar Mills is progressing with its development plans. This legal backdrop suggests a complex operational environment, presenting both challenges and opportunities for investors considering the company's real estate development focus.
