The Board of Directors of Alembic Limited at its meeting held today has:b) On recommendation of the Audit Committee, considered and approved Composite Scheme of Arrangement ('Scheme') for the transfer and vesting of the Identified Real Estate Undertaking of Alembic Limited ('the Company' or 'the First Demerged Company'), comprising of a real estate development project along-with related real estate interest and Project Management Consultancy business into Shreno Limited ('the First Transferee Company' or 'the Second Demerged Company') and transfer and vesting of Engineering Division and Investment Division of Shreno Limited into Nirayu Private Limited ('the Second Transferee Company') and their respective shareholders with effect from the Appointed Date i.e. 1st November 2018. With reference to captioned matter, we would like to hereby inform as under: The Board of Directors of the Company on the recommendation of the Audit Committee has considered and approved the Composite Scheme of Arrangement ('Scheme') comprising of the transfer and vesting of the Identified Real Estate Undertaking of Alembic Limited ('the Company' or 'the First Demerged Company' or 'Alembic'), comprising of a real estate development project alongwith related real estate interest and Project Management Consultancy business into Shreno Limited ('the First Transferee Company' or 'the Second Demerged Company' or 'Shreno') and transfer and vesting of Engineering Division and Investment Division of Shreno Limited into Nirayu Private Limited ('the Second Transferee Company' or 'Nirayu') and their respective shareholders with effect from the Appointed Date i.e. 1st November, 2018. We would like to inform that Hon''ble National Company Law Tribunal, Ahmedabad Bench ['NCLT'] has sanctioned the Composite Scheme of Arrangement between Alembic Ltd and Shreno Ltd and Nirayu Pvt Ltd and their respective shareholders ['Scheme']. A copy of the order of NCLT ['Order'], as uploaded on the website of NCLT, is enclosed herewith for your records. In accordance with Clause 5.1 of the Scheme, eligible equity shareholders of Alembic Ltd whose name appears in the register of members as on the Record Date, shall be issued and allotted, 1 (one) 7% Non-Convertible Cumulative Redeemable Preference Shares-I by Shreno Ltd, as consideration for transfer and vesting of Demerged Undertaking 1 to Shreno Ltd, for every 1 fully paid up equity share of Rs. 2/- each held by them in Alembic Ltd. The Scheme will become effective upon filing of the certified copy of Order with the Registrar of Companies, Gujarat. The same will be intimated to the Stock Exchanges in due course. (As Per BSE Announcement Dated On 02/08/2019) In furtherance to our letter dated 2nd August, 2019 on the captioned matter, we would like to inform that the Composite Scheme of Arrangement between Alembic Limited and Shreno Limited and Nirayu Private Limited and their respective shareholders ('Scheme'), has become effective upon filing of the certified copy of the Order passed by the Hon''ble National Company Law Tribunal, Ahmedabad Bench ('NCLT') sanctioning the Scheme, with the Registrar of Companies, Gujarat (MCA website) on 8th August, 2019, with effect from the Appointed Date of 1st November, 2018. You are requested to take the above on your record. (As Per BSE Announcement Dated On 08/08/2019)