AP High Court Sanctions the Scheme of Arrangement of Aurobindo Pharma Ltd

The Hon'ble High Court of Judicature of Andhra Pradesh at Hyderabad has sanctioned the Scheme of Arrangement between Aurobindo Pharma Limited and Curepro Parenterals Limited and their respective shareholders and creditors ("Scheme") under Sections 391 to 394 of the Companies Act, 1956.

The Scheme provides for transfer of injectables Unit IV of Aurobindo to Curepro, its wholly-owned subsidiary, with effect from the Appointed Date April 01, 2014. The Company shall take necessary steps to make the Scheme effective and will intimate the exchanges accordingly.

Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.589.85 as compared to the previous close of Rs. 586.1. The total number of shares traded during the day was 178362 in over 7754 trades.

The stock hit an intraday high of Rs. 596 and intraday low of 577. The net turnover during the day was Rs. 104662240.

Source : Equity Bulls

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