Nicholas Piramal India Ltd (NPIL) has informed BSE that the Hon’ble High court of Judicature at Bombay has vide its Order dated January 25, 2008 sanctioned the scheme Amalgamation of NPIL Healthcare Pvt Ltd (NHPL) and Nicholas Piramal Consumer Products Pvt Ltd (NPCPL) (the Transferor Companies) with the Company. Certified Copies of the Orders, which were received by NHPL and NPCPL from the Bombay High Court have been filed with the Registrar of Companies (ROC), Maharashtra Mumbai on February 19, 2008. Accordingly, the Scheme has now become effective.

Since the Transferor Companies were wholly owned subsidiaries, no separate Petition was filed by NPIL.

Further the Company has informed that, no shares are being issued by the Company (i.e. NPIL) under the Scheme as the entire issued, subscribed and paid-up share capital of the Transferor Companies were held by the Company and upon the Scheme becoming effective the said entire holding has stood cancelled.