Aarti Drugs to acquire Suyash Laboratories

6th May 2005: Aarti Drugs has decided to acquire a controlling stake in Suyash Laboratories, subject to necessary approvals from the appropriate authorities. The board of Aarti Drugs, at its meeting held yesterday, has decided to acquire a controlling stake in Suyash Laboratories thereby making it a 51% subsidiary of the company," Aarti Drugs said in a release issued to the NSE today. Suyash is engaged in the manufacture, sale and exports of active pharmaceutical ingredients (APIs) for cardiovascular, anti-fungal and anti-inflammatory drugs, the release added.

Tata Finance' equity shareholders & creditors approve Scheme of Reorganisation & Amalgamation

7th May 2005: Tata Finance Ltd has informed BSE that pursuant to the order of the High Court of Judicature at Mumbai dated March 18, 2005, the Secured Creditors, Unsecured Creditors & Equity Shareholders of the Company at the Court Convened Meetings held on April 26, 2005 have approved the Scheme of Reorganisation & Amalgamation of the Company with Tata Motors Ltd.

Strides Arcolab acquires 90% stake in Medgene Pharmaceuticals

5th May 2005: Strides Arcolab has acquired Hyderabad-based Medgene Pharmaceuticals by acquiring 90% equity stake in the company. According to a release issued by Strides to the NSE today, Medgene has become a subsidiary of the company with effect from May 3, 2005. "Medgene is engaged in the business of biotech and biopharmaceuticals," the release added. No financial details were released by Strides.