xPromoted by Gattu Kedia and Manoj Raniwala of the Black Rose Group, Asia Fab is engaged in weaving and processing synthetic fabrics for exports to the European and middle-east countries._x000D_ _x000D_ The company set up a unit at Hatkanangale (Kolhapur district), Maharashtra, with an installed capacity of 500,000 mtr pm. To part-finance the project, the company came out with a public issue Apr.'92. The company has a technical-cum-marketing tie-up with a leading Japanese multinational trading house. The company's weaving section went on stream in Jun.'92 and the processing section commenced operations in Aug.'92. _x000D_ _x000D_ The company was undergoing reconstruction under the provision of SICA,BIFR has passed the rehabilitation package which was framed by Union Bank of India._x000D_