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| Exchange Disseminated Time | Amrutanjan Health Care Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 14, 2010, has, in-principle, approved the restructuring of the Company's OTC and Pharma business.
In this connection, the Board has resolved:
1. To incorporate two wholly owned subsidiary Companies;
2. To appoint a Committee of Directors comprising of Mr. S. Sambhu Prasad, Managing Director, Dr. H. B. N. Shetty and Mr. A. Satish Kumar, Directors to evaluate the restructuring proposal to demerge the Company's OTC business into one subsidiary Company and transfer the Company's Pharma business (Pharmaessense Chemistry Services Division) into another subsidiary Company to be incorporated for this purpose; and
3. To appoint KPMG as the tax and regulatory advisor to the restructuring exercise, who would provide their findings to the Committee of Directors, which in the due course will be placed before the Board for approval. |
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