Petrofils Cooperative Limited  (PCL)

Petrofils Cooperative Limited (PCL) was registered in 1974 as a Society under the Delhi Cooperative Societies Act, 1972 and was registered under the Multi-State Cooperative Societies Act, 1984 in January 1988. Besides Government of India and National Cooperative Development Corporation (NCDC), PCL had 1446 Weavers Cooperative Societies from all over the country as its members. Government of India held 84% of the paid-up equity of PCL.

         PCL produced Polyester Filament Yarn, Nylon-6 Chips and Spandex Yarn in its four plants located at Vadodara and Naldhari in Gujarat. PCL sold Methanol being its by-product.

The company started incurring losses from 1994 onwards and its proposal for rehabilitation was not found to be techno-economically viable. It was, therefore, decided to wind up the Society.   As a follow up, the Society was closed from 18.4.2001 and Liquidator has been appointed by the Central Registrar of Cooperative Societies to complete the process of winding up of the Society.