Amarjothi Spinning Mills has received an approval for investment of 100% shares in Amarjothi Colour Melange Spinning Mills (ACMSML). Pursuant to this investment, ACMSML will become 100% wholly owned subsidiary of the company with effect from April 01, 2012.
The board at its meeting held on March 28, 2012 has accorded their consent for the same. The proposed investment in the equity share capital of the company are within the limits specified 372A of the Companies Act, being 100% equity share capital of Rs 3,00,00,000.
ACMSML is a new company ready for its commercial production from April, 2012. The company proposes to manufacture melange yarn of lesser counts.
Amarjothi Spinning Mills is engaged in the manufacturing and marketing of melange Yarn in India and internationally. It offers a range of yarn products that include cotton, organic cotton, organic exchange, viscose, polyester, bamboo, modal, excel, galaxy, neps, flax, multi-fiber series, and dyed yarn in various blends, shades, counts, and volumes.
