Vardhman Textiles has received an in-principle approval for merger of its 4 subsidiary companies with itself.
The Board of Directors of the company in its meeting held on May 09, 2019 has given its in-principle approval for merger of its 4 subsidiary companies with it and has constituted a Committee of Directors to take all appropriate steps in this regard and to appoint legal consultants and/or other agencies to advise the company for proceeding further in this matter. The decision of the Board is subject to the approval of Board of Directors of its subsidiary companies.
Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.
