Nicholas Piramal India Ltd, a leading pharmaceutical giant, has informed BSE that it had decided to obtain the consent of the shareholders by means of postal ballot for the purpose of sub-division of the equity shares of Rs 10 each as well as un-issued unclassified shares of Rs 10 each of the Company into 5 (five) shares of Rs 2 each.
The Board of Directors has appointed N L Bhatia, a senior company secretary practicing since 1982, as scrutinizer for conducting the postal ballot process.
The postal ballot form, duly completed, should reach the scrutinizer not later than close of working hours on December 11, 2004. The results of the postal ballot will be announced by the directors of the Company on December 17, 2004, the company said.