SC stays DIL pharma business demerger schme

Our Corporate Bureau

Mumbai, Sept 17: The scheme of arrangement conceived by Duphar Interfran (DIL) to demerge its pharma business shall now be kept in abeyance by virtue of the stay order from the Supreme Court.

In a special leave petition (SLP) filed Dr Renuka Datla, the apex court in its order dated September 5 stated that it will not be just and appropriate to “interdict the implementation of the scheme” at this stage. The Supreme Court made it clear that any action taken pursuant to the judgement and order of the High Court will be subject to the final outcome of the SLP, a statement from Dr Renuka
Datla said. Dr Datla is part of the Datla clan and daughter-in-law of Dr DVK Raju and wife of Dr Vijay Kumar Datla of Biological E Ltd and is opposing the demerger.