Aurobindo Pharma appoints Director from Merlion

Aurobindo Pharma Ltd has announced that pursuant to the terms and conditions of the shares subscription and shareholder agreement entered into on February 01, 2004, between the Promoters, the Company and the Merlion India Fund (I) Ltd., for issue of 23,70,000 equity shares on preferential basis, Merlion has appointed Mr. Karamjit Singh Butalia as Director on the Board of the Company w.e.f. February 18, 2004.

Consequent to sale of 13,34,630 equity shares held by them the aforesaid agreement stands terminated. Accordingly, Mr. Karamjit Singh Butalia has resigned as Director from the Board of the Company w.e.f. June 11, 2007.

The Board at its meeting held on June 30, 2007 has taken note of the resignation of Mr. Karamjit Singh Butalia as Director of the Company.

Source : Equity Bulls

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