Piramal Enterprises has received an approval from High Court of Judicature at Bombay for Scheme of Amalgamation and Arrangement between PHL Holdings and Piramal Enterprises and their respective shareholders and creditors by its order passed on May 10, 2013.
While the authenticated copy of the Order has now been received, the certified copy of the order is awaited. Once the same is received and filed with the Registrar of Companies, Maharashtra, the Scheme will become effective.
Piramal Healthcare, formerly known as Nicholas Piramal, is one of the largest pharmaceutical companies in India. Being part of Piramal Group, its healthcare division contributes 50% to group’s revenue.
