Alembic Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
1. The above results have been reviewed by Statutory Auditors, recommended by Audit Committee and approved by the Board of Directors of the Company.
2. The previous quarter's / year's figures have been regrouped / rearranged wherever necessary to make it comparable with the current quarter / year.
3. The Board of Directors of the Company had at their meeting held on 3rd November, 2018 inter alia approved the Composite Scheme of Arrangement comprising of the transfer and vesting of the Identified Real Estate Undertaking of Alembic Limited ('the Company/ or 'the First Demerged Company' or 'Alembic'), comprising of a real estate development project alongwith related real estate interest and Project Management Consultancy business into Shreno Limited ('the First Transferee Company' or 'the Second Demerged Company' or 'Shreno') and transfer and vesting of Engineering Division and Investment Division of Shreno Limited into Nirayu Private Limited ('the Second Transferee Company' or 'Nirayu') and their respective shareholders with effect from the Appointed Date i.e. 1st November, 2018. The Scheme is subject to requisite statutory and regulatory approvals and sanction by the respective shareholders of each of the Companies involved in the Scheme. Pending receipt of statutory approvals, income / expenses of inter-company transactions involving the businesses affected by the Scheme amounting to a surplus of Rs. 110.29 lakhs have not been considered in the above results by the Company.