STRIDES ARCOLAB LTD. - Updates on Scheme of Amalgamation

With reference to the earlier annoucement June 17, 2015, regarding status of the application made to Foreign Investment Promotion Board (FIPB) for issuing equity shares to non-resident shareholders of Shasun Pharmaceuticals Limited under the Scheme of Amalgamation, Strides Arcolab Ltd has informed BSE that the Company have now been informed by FIPB that the Company's application has not been approved on the grounds that the Scheme of Amalgamation is yet to be approved by the competent High Courts in India.<BR><BR>The Company is proposing to make a representation to FIPB.<BR><BR>