Pursuant to Regulation 30 of the SEBI Listing Regulations, we wish to inform that, the Board of Directors of the company in their meeting held Monday i.e., August 14, 2023 (commenced at 05:00 P.M. and concluded at 06:00 P.M.), inter-alia, considered and approved the transfer of Formulation Distribution & Marketing Business of the company on a slump sale basis as a going concern to Morepen Rx Limited (wholly owned subsidiary). The revenues and profits derived from the said subsidiary will be consolidated in the parent company, Morepen Laboratories Limited (MLL). The relevant information pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, is enclosed herewith