- Business
- Sturdy Industries Limited engages in the manufacture and supply of plastic pipes and irrigation systems, aluminum conductors and composite panels, power transmission products, infrastructure ducts, and related trading activities primarily in India. Incorporated in 1989 and headquartered in Parwanoo, Solan, Himachal Pradesh, the company produces micro irrigation systems including sprinklers and drip irrigation under the SWATI brand; HDPE, PVC, and LLDPE pipes; metallic and colored aluminum composite panels and sheets under the SUNBOND brand; power transmission and distribution products such as AAC, AAAC, ACSR aluminum conductors, aerial bunched cables, wires, and wire rods; IT infrastructure products including permanent lubricant HDPE ducts; plastic water storage tanks; and ACC and ACP sheets, all compliant with BIS standards or customer specifications. It trades in polymers and aluminum, serving customers like PowerGrid Corporation, state electricity boards, contractors, and exporters, with products exported to the United Arab Emirates, Mauritius, Spain, Africa, Switzerland, Bulgaria, and other international markets. In a significant recent development, the National Company Law Tribunal (NCLT) Chandigarh Bench commenced Corporate Insolvency Resolution Process (CIRP) against the company on June 6, 2024, following a petition by Punjab National Bank, appointing CA Anurag Goel as Resolution Professional; the Committee of Creditors confirmed the appointment in July 2024, and the process continues with invitations for expressions of interest and provisional lists of prospective resolution applicants issued as of early 2025, alongside properties worth Rs 8.23 crore sold by the bank in May 2024 to recover loan dues.