Grasim Industries update on scheme of arrangement
Capital MarketGrasim Industries announced that the Scheme of Arrangement between Grasim Premium Fabric (previously known as Soktas India ), a wholly owned subsidiary of the Company and Grasim Industries has become effective on 21 June 2021. The appointed date is 01 June 2019. All properties, asset, investments, liabilities, etc of GPFPL stands merged and transferred to and vested in the Company, on a going concern basis in the manner as stated more particularly in the Scheme.
Consequent to the above, GPFPL stands dissolved without being wound-up and has also ceased to be a wholly owned subsidiary of the Company.
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