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Our Bureau

Hyderabad , May 17

DAI-ICHI Karkaria Ltd is conducting a postal ballot to seek the approval of its shareholders for sale, lease or otherwise disposal of or transfer of its Hyderabad business in favour of the joint venture company with GVK Bioscience Pvt Ltd.

Dai-Ichi entered into a memorandum of understanding with GVK Bioscience on May 9 for the proposed joint venture. The company has informed the stock exchanges that it has appointed Mr Khumri of T.M. Khumri & Co, Company Secretaries, as scrutiniser for conducting the postal ballot process.

The completed postal ballot forms should reach the scrutiniser on or before the close of working hours on June 17. The scrutiniser would submit his report to the company chairman after completion of scrutiny of the postal ballot. The chairman will announce the results on June 21, the company said.

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