S Kumars plans international expansion

S Kumars Nationwide Ltd is planning its expansion the international market through acquisitions in Europe and North America. It is learnt through a communication of S Kumars with BSE that they are exploring potential acquisition opportunities in the aforementioned continents. The company plans to pursue potential targets that would leverage a strong front-end / back-end synergy for the company. These companies essentially have to be from the fashion and design background as opposed to low cost commodity business. The company is planning set up a holding company SKNL International for escalating its acquisition policies. They have decided to establish and domicile the company in Netherlands as it is a tax efficient jurisdiction. The board accordingly authorised the Company to begin formalities and procedures to pass resolution through postal ballot for the proposed investment in terms of Section 372 A.