Aurobindo Pharma Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 15, 2006, has considered and approved a Scheme of Arrangement ("the Scheme") for the merger of APL Life Sciences Ltd ("APL Life") being wholly owned subsidiarie of the Company, with itself and utilization of the Securities Premium account, the appointed date of the Scheme of Arrangement is April 01, 2006. Upon the Scheme becoming effective, all the assets and liabilities of APL Life and Senor shall be transferred to the Company.
The Company shall not issue any shares or other consideration as both APL Life and Senor are 100% subsidiaries of the Company.
The Scheme is subject to requisite consent, approval of the requisite majority of the shareholders of the Companies, the Hon'ble High Court of Judicature at Hyderabad, Stock Exchanges, the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme.
Aurobindo Pharma Ltd has informed BSE that pursuant to the order made by the High Court of Judicature of Andhra Pradesh, at Hyderabad, a meeting of the Equity Shareholders of the Company will be held on February 20, 2007, for the purpose of considering, and if thought fit, approving with or without modification(s), the arrangement embodied in the Scheme of Arrangement proposed to be made between the Company and APL Life Sciences Ltd and Senor Organics Pvt Ltd
(As Per BSE Bulletin Dated on 01/02/2007)
Aurobindo Pharma Ltd has informed BSE that the equity shareholders of the Company at its Court Convened Meeting held on February 20, 2007, have approved the Scheme of Arrangement ("the Scheme") for the merger of APL Life Sciences Ltd ("APL Life") and Senor Organics Pvt Ltd ("Senor"), both being wholly owned subsidiaries of the Company, with the Company and the utilization of the Securities Premium account pursuant to the provision of Sections 391 to 394 read with Sections 78 and Sections 100 to 103 and other applicable provisions of the Companies Act, 1956 with the requisite majority.
The appointed date of the Scheme of Arrangement is April 01, 2006.
(As Per BSE Announcement Website Dated on 20/02/2007) | Powered by Capital Market - Live News |
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