Arvind Brands to merge with the parent company

Mumbai, Apr 28: Garment major Arvind Mills Ltd has announced a composite scheme of arrangement for demerger of garment business division of Arvind Brands Ltd and amalgamation of Arvind Fashions Ltd (wholly owned subsidiaries of the company) with the company and consequential reduction and restructuring of share capital of Arvind Brands Ltd and the company with effect from April 01, 2006.

The whole undertaking of the garment business division of Arvind Brands Ltd and the entire undertaking of Arvind Fashions Ltd shall now be transferred to the parent company subsequent to the approval of the Gujarat High Court, a company release informed the BSE Since both Arvind Brands and Arvind Fashions are wholly owned subsidiaries of the company, no shares shall be required to be issued by the company pursuant to above scheme of arrangement.

UNI