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Suven Pharmaceuticals Limited, a company incorporated in November 2018, has become Wholly Owned Subsidiary of Suven Life Sciences Limited, effective February 2019. Suven Life Sciences Limited, post the Board meeting on February 5, 2019, announced demerger of Suven Life Sciences Limited into: Suven Life Sciences Limited, the demerged entity, to continue innovative research focused on Central Nervous System (CNS) disorders to meet huge unmet global medical needs. Suven Pharmaceuticals Limited, the resultant entity, to continue the CRAMS business operations. The Scheme of Arrangement has since been approved by the National Company Law Tribunal (NCT), Hyderabad bench vide its order on 6th January 2020.
Pursuant to the Scheme of Arrangement between Suven Life Sciences Limited (‘Demerged Company’), Suven Pharmaceuticals Limited (‘Resulting Company’) and their respective shareholders and creditors, duly approved by the National Company Law Tribunal (NCLT), Hyderabad Bench, vide its Order dated 06th January, 2020, the Demerged Undertaking (as defined in the Scheme) of the Demerged Company has been demerged from Suven Life Sciences Limited and the same has been transferred to and vested in Suven Pharmaceuticals Limited with effect from 1st October, 2018, being the Appointed Date fixed in the said Scheme of Arrangement.
The Scheme, has become operative from the Appointed Date i.e., 1st October, 2018, but has become effective on 9th January, 2020 being the date on which certified copies of the Order of the NCLT, Hyderabad Bench sanctioning the Scheme was filed with the Registrar of Companies, Hyderabad, Telangana, both by the Demerged Company and Resulting Company.
Business area of the company
The company is a bio-pharmaceutical company, incorporated with the object of being engaged in the business of development and manufacturing of New Chemical Entity (NCE) based Intermediates, Active Pharmaceutical Ingredients (API), Speciality Chemicals and formulated drugs under contract research and manufacturing services for global pharmaceutical, biotechnology and chemical companies. Suven Pharma Inc., a Delaware Company, is a WOS (wholly owned subsidiary) of SPL, is a SPV (Special Purpose Vehicle) created on 9th March 2019, for undertaking various business opportunities in Pharma Industry.
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