Home / Knowledge / News / Textiles / New Horizon to buy Sri Mahasakthi Textile & Arumuga Cotspin
New Horizon to buy Sri Mahasakthi Textile & Arumuga Cotspin
24
Jul '09
New Horizon Leasing & Finance Ltd has informed that the Board of Directors of the Company at its meeting held on July 22, 2009, inter alia, has approved the following:

1. To acquire 100% share capital of two textile Companies viz. Sri Mahasakthi Textile Mills Ltd, (Kerala) and Arumuga Cotspin Pvt Ltd (Tamil Nadu) for a total consideration of Rs 10 Crores, thus to make these Companies as fully owned subsidiaries of the Company.

2. To start new business in packaging space.

3. To shift Registered Office of the Company from Mumbai to Coimbatore, Tamilnadu subject to necessary approval.

4. Amend Memorandum of Association of the Company to include new line of business.

5. Appointed Mr. T Rajkumar as Director of the Company.

6. Approved postal ballot notice to approve Item Nos. 1 to 4 of the above proposals.

New Horizon Leasing & Finance Ltd


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search