At meeting held on 17 November 2016
Cadila Healthcare announced that the Board of Directors of Cadila Healthcare ('Company') at its meeting held on 17 November 2016, has considered and approved the Scheme of Arrangement between Cadila Healthcare and Zydus Healthcare and their respective shareholders and creditors ["Scheme"] under sections 391 to 394 of the Companies Act, 1956. Zydus Healthcare is a wholly owned subsidiary of the Company. As per the Scheme, India Human Formulations Undertaking of the Company will be transferred to Zydus Healthcare on a Slump Sale [Section 2(42C) of the Income-tax Act, 1961] basis for lump-sum cash consideration.Powered by Capital Market - Live News
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