Ind-Swift Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 14, 2011 inter alia, has Granted its in-principle approval for amalgamation of the Company with (i) Essix biosciences Ltd, (ii). Dashmesh Medicare Pvt. Ltd (Both unlisted entities) under section 391 to 394 of the Companies Act, 1956, subject to appropriate statutory and regulatory approvals. Ind-Swift Ltd has informed BSE that the meetings of Equity Shareholders, Secured Creditors, Unsecured Creditors and Fixed Deposit holders were held on April 08, 2012 in order to approve the scheme of arrangement for merger of Dashmesh Medicare Private Limited & Essix Biosciences Limited with Ind Swift Limited pursuant to the order of Hon'ble High Court of Punjab & Haryana, Chandigarh, dated February 28, 2012. The Equity Shareholders, Secured Creditors, Unsecured Creditors and Fixed Deposit holders of the Company have approved the Scheme of Arrangement. (As Per BSE Announcement Dated on 09.04.2012) Ind-Swift Ltd has informed BSE regarding Outcome of Board Meeting held on August 21, 2012. Ind-Swift Ltd. inter alia,has approved the following: 1.In view of shrinking operating margins,high level of finished stocks,low cash liquidity and escalating debt costs,the Company has decided to make reference to the Corporate.Debt Restructuring (CDR) cell through Punjab National Bank for financial re-structuring of the debts of the Company under CDR mechanism formulated by the Reserve Bank of India. 2.The Board reviewed the present status of the merger of Dashmesh Medicate Pvt Ltd and Essix Bioscience Ltd with the Company in light of the recent Fire incidence in the factory premises of Dashmesh Medicate Pvt Ltd., which totally destroyed the asset base of the Dashmesh Medicate Pvt Ltd. In the larger interest of the Company and its stakeholders,the Board has decided to withdraw the merger petition of Dashmesh Medicate Pvt Ltd and Essix Bioscience Ltd.with the Company filed with Hon'ble High Court of Punjab & Haryana at Chandigarh. (As Per BSE Announcement Dated on 21.08.2012) Ind-Swift Ltd has informed BSE that : 1. That on the application made by the Company, the Hon'ble High Court of Punjab & Haryana, Chandigarh has allowed the withdrawal of the merger petition of Dashmesh Medicare Pvt. Ltd. and Essix Biosciences Ltd. with the Company. (As per BSE Announcement Dated on 27.10.2012)