Arvind Remedies has received an in-principle approval for demerger of Irungatukottal unit of the company to a new subsidiary company. The board at its meeting held on February 12, 2013 has approved for the same.
Besides, for the purpose the board has also authorized the Managing Director of the company to finalize the names of independent CA and Merchant Banker for appointment and to complete the necessary formalities as may be required.
Arvind Remedies is engaged in manufacturing of pharmaceutical formulations such as tablets, capsules (including soft gels), ointments and liquids. It has a manufacturing facility at Kakkalur in Tamil Nadu.
