Sun Pharmaceutical Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 10, 2012, inter alia, have transacted the following : 1. The Board of Directors also decided to spin off the domestic formulation business of the Company on a going concern basis comprising certain assets pertaining to the said business to its wholly owned subsidiary, Sun Resins & Polymers Pvt. Ltd. w.e.f. March 31, 2012 pursuant to a proposed scheme of arrangement u/s 391 to 394 of the Companies Act, 1956 subject to obtaining of approvals from the shareholders, regulatory authorities including the Hon'ble High Court of Gujarat.