(26-Jul-2021 Hours IST)
In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Jubilant Pharmova Limited ('JPM'), at its meeting held on July 23, 2021, has approved the demerger of the Active Pharmaceutical Ingredients (API) undertaking of Jubilant Generics Limited ('JGL' - a wholly owned subsidiary of the Company) and vesting of the same with JPM, on a going concern basis ('Proposed Demerger'), to be implemented through a scheme of arrangement between JGL and JPM and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ('Proposed Scheme'). The details as required to be disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular dated September 9, 2015, are enclosed at 'Annexure A'. Kindly take the above information on record. Receipt of NCLT''s formal order (As Per BSE Announcement Dated on 14.06.2022) We wish to inform you that the Hon''ble National Company Law Tribunal, Allahabad Bench ('NCLT') has, by its Order dated May 23, 2022, sanctioned the Scheme of Arrangement under Sections 230-232 and other applicable provisions of the Companies Act, 2013 read with the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 between Jubilant Generics Limited (Transferor Company) and Jubilant Pharmova Limited (Transferee Company) and their respective shareholders and creditors. We enclose herewith copy of the order as available on the website of NCLT. The order was available on the website of NCLT on May 24, 2022. We request you to take the same on record. (As Per BSE Announcement Dated on 25.05.2022)
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