Board of Rupa & Company approves scheme of arrangement

At meeting held on 09 December 2020

Dec 10, 2020 06:12 IST capital market

The Board of Rupa & Company at its meeting held on 09 December 2020 has approved the Scheme of Arrangement between Oban Fashions, Wholly-owned Subsidiary of Rupa & Company, (Oban or ?the Demerged Company?) and Rupa & Company (Rupa? or ?the Resulting Company? or the Company?) and their respective shareholder(s) (?Scheme?).

The Demerged Company is an authorized licensee with rights from French Connection Limited to develop, manufacture, market and sale of the innerwear and related products with the brand name ?FCUK? in India as well as an authorized licensee with rights from Fruit of the Loom, INC to manufacture, distribute, advertise and sell innerwear, and outerwear products for men boys women, girls and toddler in India under their brand name and mark, ?FOTL? (Demerged Undertaking). The Demerged Undertaking of the Demerged Company comprises of whole of the undertaking and the entire business in connection with the above two brands, operated under the license of FCUK and FOTL.

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