The Board of Directors of the Company has unanimously approved sale ofCompany's Life Science & Analytics business (excluding Bulk Drugs) to Merck Specialties Pvt Ltd, a 100% subsidiary of affiliates of Merck KGaA, Germany for a consideration of Rs 992 million inclusive of the value of intangibles, fixed and net current assets, the consideration being suitably adjusted to represent any change in the asset / net current value on the date of transaction. The aforesaid consideration is subject to payment of necessary levies and applicable taxes by the purchaser. This sale is subject to the approval of the Shareholders which is being sought through Postal Ballot. The company has informed that the members of the Company will consider to approve, by way of Postal Ballot, the resolution for sale of Company's Life Science & Analytics business excluding Bulk Drugs to Merck Specialties Pvt Ltd, on a going concern basis for a consideration of Rs 992 mio inclusive value of fixed assets and current assets, subject to such consideration being suitably adjusted to represent any change in the fixed asset and net current assets on the date of transaction. The Board of Directors of the Company has appointed Mr. Bharat Shemlani, Chartered Accountant as Scrutinizer for the Postal Ballot process. The Postal Ballot form duly completed should reach the Scrutinizer on February 20, 2006. The results of the Postal Ballot will be declared by the Chairman on February 27, 2006. (As per BSE Bulletin dated on 03/02/2006) The Company has informed that the members of the Company, by way of Postal Ballot, have approved the Ordinary Resolution under Section 293(1)(a) of the Companies Act, 1956, relating to the sale of business of Life Sciences and Analytics excluding Bulk Drugs to Merck Specialities Pvt Ltd, with requisite majority. (As per BSE Bulletin dated on 27/02/2006)