Strides Arcolab Limited has informed that pursuant to an order made on May 08, 2009, the Honble High Court of Judicature at Bombay has directed that, a meeting of the Equity Shareholders of the Company will be held on June 24, 2009, for the purpose of considering, and if thought fit, approving with or without modification(s), the arrangement embodied in the Composite Scheme of Arrangement of Global Remedies Limited, Grandix Pharmaceuticals Limited, Grandix Laboratories Limited and Quantum Remedies Pvt. Limited (Transferor Companies) and Strides Arcolab Limited (Transferee Company) and their respective equity Shareholders and Creditors. The Scheme provides for the amalgamation of the Transferor Companies with the Transferee Company.
The Company has also convened an EGM of the equity shareholders on June 24, 2009 for seeking approval of members for transfer of balance in the Securities Premium Account of the Company to Reserves for Business Restructuring.
The Company has also convened an EGM of the equity shareholders on June 24, 2009 for seeking approval of members for transfer of balance in the Securities Premium Account of the Company to Reserves for Business Restructuring.
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