Aditya Birla Nuvo has received an approval from High Court of Bombay on March 01, 2013 for Scheme of Arrangement between Pantaloons Retail (India) [now known as Future Retail (PRIL)] and Peter England Fashions and Retail (PEFRL), and their respective shareholders and creditors and Indigold Trade and Services as shareholder of PEFRL and a certified copy of the Order has been filed with the Registrar of Companies, Maharashtra.
The Board of Directors of PEFRL at its meeting held on April 08, 2013, has declared the Scheme effective from April 08, 2013. Accordingly, the Pantaloons Fashion Retail Business of PRIL has been transferred by way of demerger to PEFRL with effect from the Effective Date.
Aditya Birla Nuvo operates in areas like financial services, telecom, fashion and lifestyle, IT and ITES, agri products, yarn and textile manufacturing.
