Alok Industries’ board of Directors has approved the Scheme of Arrangement between Alok Infrastructure, a wholly owned subsidiary of the Company (Alok Infra) and the Company and its Shareholders u/s Section 391 to 394 of the Companies Act, 1956 through circular resolution on December 31, 2013.
The company’s board had approved the above proposal on December 31, 2013 through circulation, whereas the same was approved on December 30, 2013.
Alok Industries evolved from a small trading business into India’s largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting. Alok’s production facilities are at Silvassa, Vapi and Navi Mumbai. The company also has a presence in the domestic retail segment and in real estate through a wholly-owned subsidiary