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| Exchange Received Time 05/04/2018 23:05:24 Exchange Disseminated Time 05/04/2018 23:05:29 Time Taken 00:00:05 | | We would like to inform that Daiichi had filed an application in the pending petition before the High Court of Delhi on 04.04.18.The Company is not a party in the said petition. However Daiichi in the said application has inter-alia prayed for maintaining status quo of the assets of the Company, thereby seeking injunction on the scheme of arrangement for demerger of the hospital business of the Company into Manipal. The said application was heard today. We would like to inform that neither any interim nor any adverse order has been passed in the hearing today.Considering the reliefs prayed for, Court has ordered that the Company be impleaded as a party therein and has granted it opportunity to file counter affidavit to the application.Further, the Board had approved the de-merger of its hospitals business with Manipal on 27.03.18. In the outcome of the said meeting, it was informed that the de-merger is subject to regulatory approvals. The detailed disclosure is attached. |
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