Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at its meeting held on 9th March, 2022, has considered and approved the Scheme of Merger (the "Scheme") pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, if any, providing for the merger of its wholly owned subsidiary- Golden Drugs Private Limited ("Transferor Company") with Bal Pharma Limited ("Transferee Company"). The Scheme would be implemented subject to the requisite statutory / regulatory approvals including the approval of the National Company Law Tribunal (Bengaluru Bench). The Company will be filing joint application with Hon'ble National Company Law Tribunal (Bengaluru Bench) in due course of time to obtain approval on the scheme as required under the provisions of the Companies Act, 2013.