Welspun India Limited has informed the Exchange that pursuant to the direction of the Honorable of High Court of Judicature at Gujarat, Ahmedabad, meetings of secured creditors, unsecured creditors and equity shareholders of the Company were convened on January 13, 2009. The Composite Scheme of Arrangement under Sections 78, 100, 391 to 394 of the Companies Act, 1956 between Welspun India Limited, Welspun Global Brands Limited and Welspun Investments Limited for demerger of Marketing Division and Investment & Treasury Division to Welspun Global Brands Limited and Welspun Investments Limited, respectively and restructure of these Companies has been approved by the secured creditors, un-secured creditors and equity shareholders in their respective meetings held as mentioned above.
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