Strides Arcolab informed that it will not have any impact on the withdrawal of duty entitlement passbook scheme (DEPB). Presently, there are no DEPB claims being made by the company as the company’s exports are from 100% EOU’s.
Recently, the Government of India has proposed the withdrawal of DEPB scheme due to which the company has been receiving queries from the investor community on the impact, if any, on the company in the event that the DEPB scheme is withdrawn.
Besides, Strides Arcolab has received Supreme Court of Victoria’s approval for the scheme implementation agreement between Ascent Pharmahealth, the company’s subsidiary. The scheme will be effective from May 16, 2011 when it will be lodged with the Australian Securities and Investments Commission.
Strides Arcolab is a global pharmaceuticals company headquartered in Bangalore, India that develops and manufactures wide range of IP-led niche pharmaceutical products with an emphasis on sterlite injectables.
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