A man with a vision K. Sreenivasan, founded
the NAGA Group, named after his beloved
wife, Smt. Naga Lakshmi. The first
group company Nagalakshmi Flour Mills Ltd.,
established in 1962 with financial
assistance from TIIC has grown into a
conglomerate spanning diverse activities wih
factories at Dindigul, Vedasandur, Trichy
"Naga" finished products are a
popular brand name in South India.
Every second biscuit consumed in Tamilnadu
is manufactured out of Naga maida. The
Naga group has today reached a turnover of
over Rs.260 crores having availed 14
loans from TIIC.
Here is what Mr. K.S. Kamala Kannan,
Chairman & Managing Director has to say
Naga has to narrate all experiences with
TIIC, we have to write a book and not a
page. Our 50 year old relationship with TIIC
dates back to 1961.
We have borrowed numerous
time and have promptly repaid the loans.
We have adopted green energy for meeting the
power requirements of our group with TIIC's
support in investing in 10 MW of wind
power. Fixed rate of interest,
comfortable moratorium period and
flexibility in debt equity norms have been
major comfort factors with TIIC. TIIC
should consider investing in equity of the
company it is lending.
see a sea-change in the attitude of TIIC
over the last decade. They are helpful,
courteous and prompt in their
services. What amazes me, is the
record keeping and perfect documentation
maintained by TIIC. We
are indebted to one and all who have helped
us in this long successful journey of 50 years."