Pharma firm Nutraplus India today said its board will consider cancellation and withdrawal of the scheme of amalgamation of Vetpharma with the company.
"A meeting of the Board of Directors of the company will be held on July 1, 2016... To consider cancellation and withdrawal of the scheme of amalgamation of Vetpharma Ltd," Nutraplus India said in a BSE filing.
The company however did not provide any reasons for the development.
On January 27, the board of Nutraplus India had approved, the scheme of amalgamation of Vetpharma with the company.
At that time Nutraplus India had said the amalgamation of Vetpharma with it will provide significant synergistic benefits and economies of scale and other benefits.
Nutraplus produces bulk drugs/active pharmaceutical ingredients (APIs), specialty chemicals & intermediates.
