Board of Ind-Swift Laboratories approves sale of API biz to PI Industries

At meeting held on 30 July 2021

The Board of Ind-Swift Laboratories at its meeting held on 30 July 2021 has approved the slump sale of Active Pharmaceuticals Ingredients (API) business of the Company on a going concern basis to PI Industries (Buyer), subject to receipt of requisite approvals including that of the Shareholder of the Company and in this regard a Business Transfer Agreement (BTA) between the Company and the Buyer has been executed.

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