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| Exchange Disseminated Time | Orchid Chemicals & Pharmaceuticals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 17, 2013, has discussed and approved the following:
1. The Business Transfer Agreement (BTA) with Hospira has been extended till June 30, 2013, Consequently, the Board approved the extension of financial year 2012-2013 of the Company by a period of 3 (three) months i.e. up to June 30, 2013. Accordingly, the Annual Accounts of the Company for the financial year 2012-2013 shall be for a period of 15 (fifteen) months from April 01, 2012 till June 30, 2013.
2. The Board also accepted the resignation of Shri S. Krishnan from the post of Executive Director & Chief Financial Officer of the Company. Shri S. Krishnan will however continue as a Director on the Board of the Company.
3. The Board has designated Shri L. Chandrasekar currently Executive Vice President and Company Secretary as the Chief Financial Officer (CFO) of the Company with immediate effect. |
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