Ashika Capital Limited has informed the Exchange that on July 25, 2012 Mr. Anand Arya and Mr. Aman Arya (belonging to the Promoter Group) have purchased 45,00,000 fully paid-up equity shares of the Target Company from Delight Financial Advisor Private Limited, Khushi Industries Limited, Terry Towel Industries Limited, Choosy Fashion Private Limited, K. P. Enterprises, Starwings Fashion Trading Private Limited and Indravarun Trade Impex Private Limited (hereinafter referred as 'Sellers') vide Sale Bills dated July 25, 2012. The above transaction resulted into triggering of Regulation 3(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, [SEBI (SAST) Regulations, 2011]. Further the Company has submitted a copy of public announcement in terms of Regulation 13 read with Regulation 14 of SEBI (SAST) Regulations, 2011.