The National Company Law Tribunal, Mumbai Bench (NCLT) vide its order dated March 9,2018, issue on March 22,2018 has approved the composite scheme of arrangement.

This involves demerger of Commodity API business of Strides and Human API Business of SeQuent Scientific into Solara Active Pharma Sciences. The appointed date for the demerger is October 1,2017, the effective date of the demerger will be notified by the companies soon as per the filings.

Further, for every share in Stride Shasun, there will be six Solara shares allotted. Solara will be listed on both the exchanges.

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