Vardhman Textiles equity shareholders & creditors to approve Scheme of Arrangement

Vardhman Textiles Ltd has announced that pursuant to the Order passed by the Hon'ble High Court for the States of Punjab and Haryana at Chandigarh, a meeting of the Equity Shareholders, Secured and Unsecured Creditors of the Company is being convened on June 16, 2007 & a meeting of the Secured and Unsecured Creditors of Vardhman Threads Ltd is being convened on June 16, 2007, for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Arrangement, Reorganization and Demerger between the Company (the Transferor/Petitioner Company No 1) & Vardhman Threads Ltd (Transferor/Petitioner Company No 2) & Vardhman Yarns & Threads Ltd ((Transferee/Petitioner Company No 3) and their respective Shareholders and Creditors.

Source : Equity Bulls

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