Aarti Drugs has received an approval for the proposed scheme of amalgamation of Suyash Laboratories with Aarti Drugs, subject to such requisite approvals including shareholders, and High Court. The company has received an approval at its board meeting held on July 29, 2011. The appointed date for the said amalgamation has been fixed as April 01, 2011.
Further, since Suyash Laboratories, is a wholly owned subsidiary of Aarti Drugs, no equity shares would be required to be issued by the company on account of the said amalgamation.
Aarti Drugs is engaged in the business of manufacturing generic bulk actives, advanced intermediates and specialty chemicals. The company is part of $265 million Aarti Group of Industries.
