India, May 26 -- The Government of India has issued a release:
The Alternative Mechanism, a Group of Ministers empowered by the Cabinet Committee on Economic Affairs, comprising Union Cabinet Minister for Road Transport and Highways, Union Cabinet Minister for Finance and Union Minister of State (Independent Charge) for Ministry of AYUSH, have approved the highest bid amounting to Rs. 121,00,94,400 (One Hundred Twenty One Crores Ninety Four Thousand Four Hundred only) of M/s. Skymap Pharmaceuticals Private Limited for the sale of 100% equity shareholding of Indian Medicines Pharmaceutical Corporation Limited (IMPCL) along with transfer of management control.
IMPCL was incorporated on July 12, 1978 with the prime objective of manufacturing...