Vardhman Textiles - Updates
With reference to the earlier announcement dated March 24, 2008 about the Scheme of Arrangement, Re-organisation and Demerger by and amongst Vardhman Textiles Ltd (VTXL), Vardhman Threads Ltd (VTL) (a 100% subsidiary of VTXL), Vardhman Yarns and Threads Ltd (a subsidiary of VTXL) and their respective shareholders and creditors has been sanctioned by the Hon’ble Punjab and Haryana High Court and Order for the same has been received on March 17, 2008. The Scheme provides for the transfer of the Thread Business of VTXL on slump sale basis and demerger of the Thread business of VTL to VYTL, Vardhman Textiles Ltd has informed BSE that now the above-referred Order has been filed with the Registrar of Companies on April 01, 2008 and has thus become effective from the said date.
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