Stock Report

Shivalik Rasayan Ltd to acquire controlling stake in Medicamen Biotech

Posted On : 2015-09-16 23:34:40( TIMEZONE : IST )

The Board of Directors of Shivalik Rasayan Ltd at its meeting held on September 16, 2015, has considered and approved the proposal to acquire substantial stake and control over M/s. Medicamen Biotech Limited, a company listed on BSE Limited, subject to the receipt of shareholders' approval in terms of Section 186 of the Companies Act, 2013 and such other laws as may be applicable.

The Board considered and approved the draft Notice calling Extra-Ordinary General Meeting (EGM) for seeking shareholders' approval for the aforesaid transaction and accordingly, authorised Mr. Rahul Bishnoi and Mr. Ashwani Kumar Sharma (Directors), jointly and/or severally, to perform all such acts, deeds and things (including but not limited to appointment of Scrutinizer and signing the final copy of the Notice) to give effect to the above transaction.

Source : Equity Bulls