Board has considered the proposal and has decided, subject to necessary approvals and consent, Amalgamation / Merger of Maan Pharmaceuticals Ltd with the Company with effect from April 01, 2005. Further the Company has informed that upon Amalgamation / Merger, the shareholders of Maan Pharmaceuticals Ltd (MPL) will be allotted Equity Shares of the Company in the Swap Ratio 2 (Two) equity shares of Re 10/- each fully paid up of the Company against 1 (One) equity shares of Re 10/- each fully paid up of MPL. The Paid up equity shares of MPL are 52,00,000 of Rs 10/- each and therefore, the shareholders of MPL will be allotted 1,04,00,000 equity shares of Rs 10/- each of the Company. Has decided to drop the proposal of Amalgamation / Merger of Maan Pharmaceuticals Ltd with the Company. (As per BSE Bulletin dated on 09/05/2006)