Ipca Laboratories Ltd. has informed the Exchange that merger application with the Company of M/s Innotech Pharma Ltd. (Innotech), a wholly owned subsidiary of the company w.e.f. September 30, 2003 made to the Board for Industrial and Financial Reconstruction (BIFR) is under the consideration of BIFR. Since the approval for merger is awaited, the Company is not in a position to merge the accounts of Innotech with itself for the post merger period i.e. from October 01, 2003 to March 31, 2004. Therefore, the Company had applied to the Registrar of Companies, Maharashtra (ROC) seeking permission to allow the Company to hold the forthcoming AGM by an extended period of 3 months i.e. on or before December 31, 2004. The Company has now informed the Exchange that the Company has now received the approval of ROC, permitting the Company to hold the forthcoming AGM on or before December 31, 2004. Ipca Laboratories Ltd. has informed the Exchange that at its hearing held on August 02,2005,the Board For Industrial and Financial Reconstruction(BIFR) in exercise of powers conferred under Section 18 of the Sick Industrial Companies(Special Provisions)Act,1985(SICA) has accorded its approval for the amalgamation of the sick company Innotech Pharma Ltd.(Innotech)(wholly owned subsidiary of the Ipca Laboratories LTd.)with the Ipca Laboratories Ltd. w.e.f April 01,2004. In accordance with the approved scheme of amalgamation, the undertaking of Innotech, being all its assets and property both movable and immovable, industrial and other licences, trade mark and all other interests and powers of every kind,all its debts, liabilities, duties and obligations has been transferred to and vested with the Ipca Laboratories retrospectively w.e.f April 01,2004.All the employees under the service of Innotech shall become employees of the Ipca Laboratories Limited without any break or interruption of service. Operations of IPL includes manufacturing and trading of pharmaceuticals. This scheme being amalgamation of a wholly owned subsidiary with the Company, the paid up share capital of transferor company shall be cancelled upon amalgamation and no fresh shares of the transferee company needs to be issued to any body as a result of this amalgamation. Pursuant to the above order of BIFR approving the amalgamation of Innotech with Ipca Laboratories Ltd., the accounts of Ipca Laboratories has been revised to give effect of the said order. (As per NSE bulletin dated on 22/08/2005)