Emami Effort For Zandu Shares Reaches Indian High Court
This article was originally published in PharmAsia News
One set of Zandu Pharmaceuticals promoters has petitioned the Bombay High Court to block Emami's effort to buy shares of the company from other Zandu promoters. The Parikh family based in Mumbai took the action against the Vaidyas group, but Zandu's chairman is trying to iron out the dispute. Y.P. Trevidi said he has asked both parties to resolve their differences out of court. The Parikhs, who own nearly a 25 percent stake in Zandu, filed the court action after failing to obtain a stay of Emami's acquisition offer, claiming they have the right of first refusal. (Click here for more
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