Southern Petrochemicals Industries Corporation Ltd. had informed the Exchange that the Scheme of Amalgamation of SPIC Holdings and Investments Limited, SPIC Biotechnologies Limited and Mitocon Biotec Limited with the Company, after receipt of requisite approvals, is awaiting sanction of the Hon'ble High Court of Judicature at Madras; The Company has now informed the Exchange that "that the Hon'ble High Court of Judicature at Madras, by its sanction dated 16th February 2007, has sanctioned the Scheme of Amalgamation, whereby the assets and liabilities of the aforesaid unlisted, wholly-owned subsidiaries were transferred to and vested in the Company with effect from the Appointed Date viz., as at the close of Office hours on 31st March 2006. Pursuant to the said Sanction, the Board of Directors of the Company, at the meeting held today (27th February 2007), has given effect to the Scheme of Amalgamation in the books of account of the Company for the financial year ended 30th September 2006".