NCLT nods scheme arrangement for Arvind Group companies

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Indian Bourses, Arvind Ltd said of having got nod from NCLT for scheme of arrangement between Arvind Ltd, Arvind Fashions Ltd, Anveshan Heavy Engineering Ltd and The Anup Engineering Ltd.

Today the Hon’ble National Company Law Tribunal, Bench at Ahmedabad (“NCLT”) has sanctioned the Composite Scheme of Arrangement under Sections 230 to 232 read with Section 66 and other ·applicable provisions of the Companies Act, 2013 amongst Arvind Limited and Arvind Fashions Limited and Anveshan Heavy Engineering Limited and The Anup Engineering Limited and their respective Shareholders and Creditors, the filing read.

Announcement of the company did somehow not excite the investors & traders, resulting an instant dent into the share price of the company, as soon as an update from the company hit the exchanges, on Friday during the trading session.