Board Meeting24 Mar 2026, 05:24 pm
Natco Pharma Ltd. Announces Board Meeting Approval of Scheme of Arrangement, New Subsidiary, and Liquidation of Existing Subsidiary
AI Summary
Natco Pharma Ltd. held a Board Meeting on 24th March, 2026, where they approved several key decisions. The Board approved a Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, involving the demerger of the Agrochemicals Business into Natco Crop Health Sciences Limited. The Board also approved the incorporation of a new wholly owned subsidiary in Nigeria, Natco Pharma Nigeria Limited, with an investment of up to USD 100,000. Additionally, the Board decided to liquidate Natco Pharma Australia Pty Ltd., the company's wholly owned subsidiary in Australia. The meeting also discussed other items of business.
Key Highlights
- Approval of Scheme of Arrangement for demerger of Agrochemicals Business
- Incorporation of a new wholly owned subsidiary in Nigeria
- Liquidation of Natco Pharma Australia Pty Ltd., the company's subsidiary in Australia
- The Scheme of Arrangement is subject to necessary approvals including shareholders, creditors, and the National Company Law Tribunal