"KSA Technopack has helped many companies in India to change their focus for raking in better returns. Since the consultancy's expertise predominantly lies in the garment business, MIL will realign the operations in tune with the global scenario," said a senior company official. KSA Technopack is the local arm of the US-based transnational consultants Kurd Solomon Associates.

MIL's decision to seek the help of a consultancy marks the beginning of the second phase of the company's restructuring exercise. The first phase of the recast involved a complete exit from non-core areas.

Though the company took the initiative of appointing a consultant, the restructuring process is yet to gain momentum with the institutions not approving the funding proposals.

It is believed that the institutions have asked for certain changes in the proposals which is being incorporated by the company. The fresh plan proposes the downsizing of operations. Sources said MIL has already identified units to be put on the block.

The new scheme of things will see the company emphasising more on export activities as a feasibility study suggested that focus on domestic textile industry will not be an attractive proposition. Hence, only those units which are in tandem with the export activities will be retained.

The consultant could provide some vital clues in terms of identifying the new overseas destinations where garment exports will be in great demand. An exclusive arrangement with any of the global chains -- like Marks & Spencer -- could be a probability. MIL already has some arrangements with Marks & Spencer and recently organised a fashion show in London together with the global retail giant, industry observers said.

Meanwhile, the company has completed its exit from the unrelated areas by selling its stake in Nocil and Gujarat Gas. Though Nocil's proposed recast is yet to take shape, the company is awaiting certain clearances, sources said. Once the fund from Nocil reaches MIL's kitty, the company's financial position will turn for the better. The infusion of fresh funds will enable MIL to carry out its regular operations, company official said.