Hon'ble High Court of Gujarat, at Ahmedabad approves Scheme of Arrangement of Sun Pharmaceutical

Sun Pharmaceutical Industries Ltd has announced that the Hon'ble High Court of Gujarat, at Ahmedabad at its hearing held on March 01, 2007 approved the Scheme of Arrangement between the Company and Sun Pharma Advanced Research Company Ltd (SPARC) in the nature of demerger and transfer of Innovative Research and Development (including New Drug Delivery Systems) Business / Unit of the Company to SPARC with appointed date of February 28, 2007.

Further the Company has informed that, the certified copy of the order dated March 28, 2007 of the Hon'ble High Court has been filed electronically by the Company & SPARC with the Registrar of Companies on March 29, 2007.

Shares of Sun Pharma were trading at Rs.1054, up by Rs.36.75 or 3.61% on volumes of 26700 shares.

Source : Equity Bulls

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