Asahi Songwon Colors gets nod for scheme of arrangement

19 Dec 2013

Asahi Songwon Colors’ board of directors  at its meeting held on December 19, 2013, has approved for the Scheme of Arrangement between Asahi Songwon Colors  and AksharChem (India) and their respective shareholders and creditors (Scheme) under sections 391 to 394 of the Companies Act, 1956 subject to the requisite approvals of the shareholders and the creditors of the respective companies and the sanction of the High Court of Gujarat at Ahmedabad or such other competent authority and other necessary statutory approvals.

Asahi Songwon initially established manufacturing facility for pigment green 7 with a capacity of 600 MT. Then, after getting good international market, the capacity has been increased to 1200 mt/annum.

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