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Arvind Remedies has informed the exchanges that due to issue of further equity shares by Coronet Labs P Ltd (CLPL), a subsidiary company, Arvind Remedies’ shareholding in CLPL has reduced substantially. Following this, CLPL has ceased to be a subsidiary of Arvind Remedies. The board also decided to meet again on February 27 to discuss the corporate restructuring proposal with bankers. Shares of Arvind Remedies slumped 10 per cent at ₹17.40 on the NSE.
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