With reference to the earlier announcement dated October 11, 2012 about receipt of notices of claim from Cilag GmbH International and Johnson & Johnson LLC entities under transaction documents in relation to sale of Russia-CIS OTC business, corresponding to the amount held in the Escrow Account & also reference to the earlier announcement dated February 11, 2013 informing about release of Rs. 25.24 crores to the Company from the Escrow Account, JB Chemicals & Pharmaceuticals Ltd has now informed BSE that Cilag GmbH International, Johnson & Johnson LLC entities and the Company have reached a settlement of all the claims raised by Cilag GmbH International and Johnson & Johnson LLC. Pursuant to this, an amount of Rs. 64.50 crores would be released from Escrow Account to Cilag GmbH International and the balance amount of Rs. 73.07 cores in the Escrow Account would be released to the Company.
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