Aarey Drugs & Pharmaceuticals Ltd has informed BSE that the meeting of the Board of Directors of the Company is to be held on March 10, 2017, inter alia, to discuss and consider transacting the following business:1. The Company has received a proposal to infuse funds including take over of Forel Labs Pvt. Ltd., a Company which has production facility at Visakhapatnam, Andhra Pradesh.a. The business of Forel Labs. Pvt. Ltd. is complementary to the products and production lines of Aarey Drugs & Pharmaceuticals Ltd., hence the said proposal shall be fruitful to the Company. The factory of Forel Labs Pvt. Ltd. is situated on 45000 sq. mtrs. of land and is a state of art production unit and USA FDA compliant.b. The Board will discuss the proposal to discuss the plan with existing bankers and creditors of Forel Labs Pvt. Ltd.2. To discuss the status of the on -going expansion at the plant of the Company.Source : BSE
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