Arvind Remedies (ARL) has received an approval for demerger of Irungattukottai unit of the company into their wholly owned subsidiary (WOS), Arvind Wellness and fixed the appointed date as April 08, 2013. The board of directors at its meeting held on May 15, 2013 has approved for the same. The resultant company (WOS) will be issuing preference share to the shareholders of ARL as a part of the demerger scheme.
For the above purpose, the board has authorized the Managing Director of the company to sign, execute and file necessary applications/ documents/ papers in matters relating to demerger to various statutory authorities including Stock Exchange, High Court etc.
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.
