NCLT approves demerger of Strides Shasun and SeQuent Scientific API busines

New Delhi: National Company Law Tribunal (NCLT) has approved the composite scheme involving demerger of Commodity API business of Strides and Human API Business of SeQuent into Solara Active Pharma Sciences under the provisions of Sections 230 – 232 and other applicable provisions of the Companies Act, 2013.

The demerger plan was appointed in October 2017, the effective date of the demerger will be notified by the companies soon as per the fillings.

For every share in Strides Shasun, there will be six Solara shares allotted. Solara will be listed on both the exchanges.

Below is the attachment for the same.