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Coimbatore, Dec. 1 Cadila Healthcare Ltd has informed that the High Court of Gujarat has approved the composite scheme of arrangement between Carnation Nutra-Analogue Foods Ltd and Cadila Healthcare Ltd and Zydus Hospitals and Medical Research Private Ltd and their respective shareholders and creditors for the transfer of the consumer products division of Cadila into Carnation and amalgamation of ZHMRPL with Cadila.

Goldiam International Ltd is scaling down its operations in the retail silver jewellery segment distributed under the brand name OLA and the business will be carried on only from selected stores.

India Infoline Ltd’s board of directors has approved the buyback of equity shares up to 10 per cent of the paid-up equity capital and free reserves of the company under the open market using stock exchange system, subject to a maximum price of Rs 43.20 a share and a maximum outlay of Rs 98.91 crore.

Morgan Stanley Investment Management Private Ltd’s board of directors and board of trustees have fixed December 15 as the record date for the conversion of Morgan Stanley Growth Fund into an open-ended scheme. Option exercise letters would be dispatched providing unit holders an opportunity to exercise options to continue to remain invested in MSGF, to redeem their units [partly or fully] or switch their units [partly or fully] in Morgan Stanley A.C.E Fund of MSMF during exit option period commencing from December 18 and expiring on January 16, 2009. After the expiry of the exit option period, MSGF would become an open-ended fund. The meeting of the board of directors of Tata Steel Ltd on November 28 to take on record the consolidated financial results for the quarter/six months ended September 30 could not be held due to the unprecedented situation in Mumbai on that date and the meeting has been rescheduled on December 2.

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