Nicholas Piramal India Ltd has informed BSE that the court convened a meeting for approval of the scheme of amalgamation between Global Bulk Drugs & Fine Chemicals Pvt Ltd (Global) and the company was duly held on Monday.

The said scheme has been approved by the shareholders with the overwhelming requisite majority.

At the extra ordinary general meeting of the shareholders held on Monday, the following resolutions were passed:

1. Approval of increase in the authorised share capital of the company from Rs 500 million to Rs 750 million by creation of 15,00,000 preference shares of Rs 100 each and 1,00,00,000 unclassified shares of Rs 10 each.

2. Approval of issue and allotment of 15,00,000 6% non-cumulative redeemable preference shares of Rs 100 each, credited as fully paid-up, to the shareholders of Global, in the ratio of three preference shares of the company for every 88 equity shares held by them in Global.

3. Approval of re-appointment of Dr Swati A Piramal as director in the whole-time employment of the company designated as "Director - Strategic Alliance & Communications".

BSE Code: 500312