Pursuant to announcement of Board Meeting dated January 04, 2022, Gennex Laboratories has informed that 836,165 equity shares equivalent to 6.73% of Deccan Remedies (DRL) acquired from the existing promoter’s shareholders group and the share funded through internal accruals and in turn the Company will hold 51% equity shares of DRL. Further, the Company holds composition of the Board Directors and referring to the above share acquired exercises or controls more than one-half of the total voting power either at its own or together with one or more of its promoter’s shareholders group. Based on controlling position and voting power in DRL the Company will fall under Sec.2(46) of the Companies Act (CA), 2013 'Holding Company' definition and DRL shall fall 'Subsidiary Company' Definition u/Sec.2(87) of the CA, 2013.
The above information is a part of company’s filings submitted to BSE.
