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Wockhardt shareholders reject resolution on related party transaction
New Delhi: Shareholders of pharma firm Wockhardt Ltd have rejected a resolution on a related party transaction that seeks to allow the company to raise up to Rs 1,600 crore from its promoter group firm Khorakiwala Holdings and Investments Pvt Ltd. At the company's annual general meeting held on August 14, the company had put ten resolutions, including the adoption of audited financial statements and the re-appointment of Murtaza Khorakiwala as Managing Director, for approval by the shareholders, all of which were approved except the related party transaction.
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751