(28-May-2020 Hours IST)
Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable provisions, if any, we would like to inform you that the Board of Directors ('Board') of Vardhman Textiles Limited ('VTL' or 'Company') in its meeting held on 27th May, 2020 has approved, subject to necessary statutory and regulatory approvals under applicable laws, including approval of the National Company Law Tribunal(s), a Scheme of Amalgamation among VMT Spinning Company Limited ('Transferor Company 1') and Vardhman Nisshinbo Garments Company Limited ('Transferor Company 2') ('Transferor Company 1 and Transferor Company 2 together referred to as the 'Transferor Companies') with and into the Vardhman Textiles Limited ('Transferee Company') and their respective shareholders and creditors under Section 230 to 232 and other applicable provisions, if any, of the Companies Act, 2013 (hereinafter referred to as 'Scheme'). In compliance of Regulation 30 read with Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that the National Company Law Tribunal, Chandigarh Bench ('NCLT' or 'Tribunal') has sanctioned the Scheme of Amalgamation filed by the Company under section 230 and 232 of the Companies Act, 2013 comprising of amalgamation of VMT Spinning Company Limited ('Transferor Company 1') and Vardhman Nisshinbo Garments Company Limited ('Transferor Company 2') with Vardhman Textiles Limited ('Transferee Company') ('Scheme'). The Tribunal has issued an electronic copy of the order sanctioning the Scheme on 30th March, 2022. A copy of the said order is enclosed for your information and records please. (As Per BSE Announcement dated on 31.03.2022) This is in continuation to our earlier intimation dated 31st March, 2022 informing the Exchange that the National Company Law Tribunal, Chandigarh Bench ('NCLT') has sanctioned the Scheme of Amalgamation filed by the Company under section 230 and 232 of the Companies Act, 2013 comprising of amalgamation of VMT Spinning Company Limited ('Transferor Company 1') and Vardhman Nisshinbo Garments Company Limited ('Transferor Company 2') with Vardhman Textiles Limited ('Transferee Company') with effect from the appointed date i.e. 1st April, 2020. In view of the above, please find enclosed herewith a copy of certified NCLT Order (Form No. CAA 7), for your information and record. (As per BSE Announcement Dated on 6/5/2022)
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