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ROUSSEL INDIA IN DISPUTE WITH HOECHST OVER TRANSFER OF LAND

Article Abstract:

Roussel India and Hoechst Marion Roussel Ltd (HMR) have expressed difference of opinion over the ownership of Roussel India's factory premises and production facilities at Thane. The Hoechst Employees Union and Roussel India have approached the Bombay High Court for settling the matter. The employees of HMR have challenged the merger of the company with Roussel India. They claim that Roussel, a loss making company had dressed up its results to report a marginal profit of Rs2.5 crore for 1997-98. While Roussel claims not to have transferred the property, HMR claims to have acquired the property for Rs20 crore. The Hoechst Employees Union have also submitted to the court an internal memorandum of Roussel India which states that the property was transferred to HMR in October 1997.(ag)

Comment:

Claims ownership of Roussel India's prodn facilities at Thane

Facilities & equipment, Hoechst Marion Roussel Ltd

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ROUSSEL SELLING THANE UNIT, ORCHID AMONG FIRST SUITORS

Article Abstract:

Roussel (India) is selling its production facility at Thane as it is merging with Hoechst Marion Roussel-India-(HMRI). Orchid Pharmaceutical and Chemicals (OP&C), Chennai is holding talks with HMRI. HMRI has set a price of Rs15 crore for the plant. OP&C had earlier planned to buy Ankleshwar unit of Pfizer. The facility has no machinery and workmen. Presently HMR is using it as a warehouse. It is located on 40,000 sq. metre land with 18,000 sq. metre built up area and same amount of floor space index. It has separate facility for formulation of beta lactum bulk drug, which will be useful to OP&C. (rk)

Comment:

Roussel (India) is selling its production facility at Thane as it is merging with Hoechst Marion Roussel-India-(HMRI).

Asset sales & divestitures, Hoechst Marion Roussel India, Orchid Pharmaceutical and Chemicals

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HOECHST-ROUSSEL MERGER GETS GREEN SIGNAL FROM COURT

Article Abstract:

The Bombay High Court has permitted the merger of Roussel India Ltd (RIL) with Hoechst Marion Roussel Ltd (HMRL). Earlier, the Hoechst Employees Union, some individual shareholders and the registrar of companies had opposed the proposed merger. The Hoechst union was against the merger as RIL and HMRL had not disclosed information on the interests' of Mr Vijay Mallya. Mr Vijay Mallya is the chairman of both the companies. Mr Mallya holds 20 percent stake in HMRL through the UB group and Mc Dowells. (ag)

Comment:

Bombay High Court permits company's merger plans w/ Roussel India Ltd.

Roussel India Ltd., Hoechst Marion Roussel Ltd.

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