Torrent Pharmaceuticals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 08, 2015, inter alia, has approved: 1. The Scheme of Amalgamation of Zyg Pharma Private Limited ('Zyg' or 'Transferor Company'), a wholly owned subsidiary of the Company with Torrent Pharmaceuticals Limited ('the Company' or Transferee Company') and their respective Shareholders and Creditors after taking into consideration Recommendation Report of the Audit and Risk Management Committee, subject to approval of Stock Exchange, SEBI and other Government authorities as well as the Hon'ble High Court of the concerned Judicature. 2. The Appointed Date for the amalgamation is October 01, 2015. 3. The rationale of the Amalgamation is as under: a. The Transferor Company is a wholly owned subsidiary of the Transferee Company. In view of similar business of the Transferor Company and the Transferee Company, it is proposed to consolidate the activities of these Companies by way of amalgamation of the Transferor Company with the Transferee Company. b. The proposed amalgamation would result in; - Concentrated management focus and synergies of operations - Facilitating inter transfer of resources and optimum utilisation of assets; - Reduction in multiplicity of legal and regulatory compliances; - Uniform corporate policies - Effectively addressing emerging challenges of enhanced competitive scenario in the markets in which the Company is operating. Torrent Pharmaceuticals Ltd has informed BSE that the Hon'ble High Court of Gujarat vide its Order dated February 11, 2016 sanctioned the Scheme of Amalgamation of Zyg Pharma Private Limited, a wholly owned subsidiary of the Company, with Torrent Pharmaceuticals Limited and their respective shareholders and creditors. The above is in continuation to the earlier communication dated October 08, 2015 intimating the approval of the said Scheme of Amalgamation by the Board of Directors of the Company in its meeting held on October 08, 2015. (As Per BSE Announcement Dated on 15/02/2016)