The Hindu Business Line : HYPO relief for 220 mills in South

OVER 200 textile mills in the southern region which faced shortfall in fulfilling the hank yarn packing obligation (HYPO) has got a breather in the recent relaxation in time limit for fulfilling the HYPO extended by the office of the Textile Commissioner.

According to a press release from the director in the regional office of the Textile Commissioner, Coimbatore, Mr Nagesh Mugadur, the 220 textile units in the region comprising Karnataka, Kerala and Tamil Nadu were served with show-cause notices for non fulfilment of HYPO for the quarter April-June 2002 before the set cut-off date, i.e as on Aug, 31, 2002.

These mills, the release said, could also avail of the extension of time given by the Textile Commissioner as in the case of others who had represented to the Government seeking time relaxation. These mills can fulfil the shortfall in the HYPO for the April-June 2002 quarter along with the HYPO fulfilment for the subsequent quarter, namely, the July-September 2002, on or before December 2.

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