Glenmark Pharmaceuticals Ltd has informed that the members of the Company will consider to approve the Ordinary resolution by way of Postal Ballot to transfer by way of sale, lease or otherwise, its Domestic Active Pharmaceutical Ingredients and Generics Formulations Business together with all land, building, plant and machinery, brands, trademarks and other assets related thereto and pertaining to the operations of the Company at its plants in Goa, Ankleshwar, Kurkumbh and Mohol and all the employees of the said business, as a going concern, to Glenmark Generics Ltd, a subsidiary of the Company for a consideration not less than Rs 698 Crores (Rupees Six hundred ninety eight crores) as may be determined by the Board of Directors with effect from April 01, 2008 and on such terms and conditions as the Board of Directors may think fit, proper and beneficial for the Company, subject to necessary provisions & approvals.
The Company has appointed Mr. Surjan Singh Rauthan, Practicing Company Secretary, Mumbai, as the Scrutinizer for conducting the postal ballot process in fair and transparent manner.
The Postal Ballot form duly completed Should reach the Scrutinizer on or before close of working hours on January 30, 2008. The Scrutinizer will submit his report to the Chairman of the Company after completion of the scrutiny and the result of the Postal Ballot shall be announced on February 05, 2008.
The Company has appointed Mr. Surjan Singh Rauthan, Practicing Company Secretary, Mumbai, as the Scrutinizer for conducting the postal ballot process in fair and transparent manner.
The Postal Ballot form duly completed Should reach the Scrutinizer on or before close of working hours on January 30, 2008. The Scrutinizer will submit his report to the Chairman of the Company after completion of the scrutiny and the result of the Postal Ballot shall be announced on February 05, 2008.
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