The Board approved to amagamate M/s Saket Bio-technologies Pvt. Ltd. with the company. The Draft scheme approved by board is subject to approval of shareholders of both the comapanies & high court of Andhra Pradesh. The shareholders of Saket Bio-technologies Pvt. Ltd., shall be entitled to 3.03 equity shares of Rs.10/- each of the company for every one equity share of Rs.10/- each held in Saket Bio-technologies Pvt. Ltd., The company has informed that the Hon'ble High Court of Andhra Pradesh vide its order dated 07/02/2005 has approved the petition filed by the company with the High Court for amalgamation of Saket Biotechnologies Pvt. Ltd., as per the Scheme of Arrangement. (As per BSE Bulletin dated on 04/04/2005) Board has alloted 60,60,000 Equity shares of the Company to the shareholders of M/S Saket Bio-technologies Pvt. Ltd. as per Scheme of Arrangement approved by High Court (As per BSE bulletin dated on 04/05/2005)