United Spirits Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 08, 2013, inter alia, has approved an arrangement to be entered into by the Company with Enrica Enterprises Private Limited inter-alia for transfer of business pertaining to the Company's distillery at Poonamallee to Enrica Enterprises Private Limited through a Scheme of Arrangement ('Scheme') as well as franchising of its brands in Tamil Nadu. The Board of Directors have approved the relevant documents including the Scheme between United Spirits Limited and Enrica Enterprises Private Limited and their respective Shareholders which envisages transfer of business pertaining to Poonamallee distillery along with related assets and liabilities to Enrica Enterprises Private Limited under the provisions of Section 391 to 394 of the Companies Act, 1956. The salient features of the Scheme are as under: 1. The Scheme provides for transfer of the undertaking, business, activities and operations pertaining to the Poonamallee distillery to Enrica Enterprises Private Limited by way of slump sale on a going concern basis; 2. In consideration, the Company will receive lump sum cash consideration of Rs 125.07 crores (Rupees one hundred and twenty five crores and seven lakhs only) in the manner specified in the Scheme; 3. The Appointed Date for the Scheme is fixed as opening of business hours on April 1,2013. Further, the Board of Directors of the Company have also approved the Franchise Agreement with the Enrica Enterprises Private Limited pursuant to which the Enrica Enterprises Private Limited will bottle the Company's brands and in consideration for this bottling arrangement, the Company will earn royalty income. With reference to the letter dated February 20, 2015 informing about the Hon'ble High Court of Karnataka at Bangalore had sanctioned, on February 19, 2015, the Scheme of Arrangement ('Scheme') between United Spirits Limited ('Company') and Enrica Enterprises Private Limited ('Enrica') and their respective shareholders and creditors, in respect of hive off of the Company's Unit at Poonamallee, Chennai to Enrica., United Spirits Ltd has now informed BSE that a certified copy of the aforesaid Order sanctioning the Scheme has been filed on March 30, 2015 with the Registrar of Companies. Karnataka. The certified copy of the Order sanctioning the Scheme by the Hon'ble High Court of Judicature at Madras, has already been filed with the Registrar of Companies, Tamil Nadu at Chennai by Enrica. Accordingly, in terms of the Scheme, the Scheme has become effective from March 30, 2015, with the Appointed Date being April 01, 2013. (As Per BSE Announcement Dated on 30.03.2015)