Aarvee Denims an - Updates
11/11/2019 17:39
Aarvee Denims & Exports Limited has informed the Exchange regarding 'Intimation regarding suspension of the operations of the spinning unit of the company.'.In accordance with Regulation 30 of the SEBI LODR Regulations, 2015; read with the events as specified in Paras B/C of Part A of Schedule III to the SEBI LODR Regulations, we wish to inform the Stock Exchange as under:1. Out of the three(3) manufacturing Units of the company located in and around Ahmedabad, the company has decided to temporarily suspend the operations of the Yarn spinning unit( Unit no 2) located at Matoda near Changodar, Dist. Ahmedabad; on the ground of commercial expediency. The company wishes to clarify that other two operating units viz. the weaving and finishing unit ( Unit no 1) located at Narol as well as the composite spinning, weaving and finishing Unit ( Unit no 3) located at Narol, near Ahmedabad will continue to remain in operations.2. The company further wishes to clarify that for the time being the company will source the yarn from outside. Thus the suspension of the operations of the spinning unit is not likely to have any material adverse impact on the overall operations of the company.