Pantaloon Retail (India) Ltd. has informed the Exchange that the Board of Directors of the Company at its meeting held on April 25, 2009 has considered and approved a Scheme of Arrangement ("Scheme") as a mode of transfer of Fixed Assets relating to fashion division of the Company to Future Merchandising Limited (name applied for) and transfer of Format Concept Brands of the Company to Future Consumer Enterprises Limited (name applied for). The Scheme of Arrangement is, inter-alia, subject to the necessary and requisite statutory approvals under the Companies Act, 1956 and any other applicable acts and regulations.
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