New Accounting Year At Piramal Healthcare

Piramal Healthcare Ltd has extended its financial year by six months. The company will have an 18-month financial year from October 1 to March 31.

The extension was necessitated as the high court has to clear the de-merger of the pharmaceutical business and its merger with the group company, Nicholas Piramal.

Company officials said the petition will come up for hearing in the high court on June 12 and until the schemes are finally cleared, it would be difficult to finalise accounts. Piramal Healthcare will be renamed Piramal Holdings and will consist of the real estate business only after the pharma business is hived off.

 

At the AGM on June 6, the shareholders will consider the appointment of directors and the auditor. Company officials said the meeting will then be adjourned for adoption of accounts on a later date.