ABSTRACT
The Ahmedabad Manufacturing and Calico Printing Co. Ltd. was started in 1880 as a mill for the printing of cloth. In 1881 it failed and went into liquidation. The Sarabhai family, whose members are the present managing agents, and who were then bankers, found themselves as the main creditors. The mill was put up for auction, but when the price offered did not reach the amount of the loan given, the banking house decided to take over the company and to run it themselves. They became the managing agents, first as a partnership under the name of Karamchand Premchand, and later in 1942 as the private limited company of Karamchand Premchand Ltd.
