Punjab Chemicals & Crop Protection board of directors at its meeting held on May 30, 2006, has approved amalgamation of IA &IC Chem and Pauraj Chemicals with the company subject to the approval of the court, other authorities etc.

The board has recommended dividend at the rate of 40% (Rs 4 per share) on increased capital after amalgamation for the financial year 2005-06, subject to the approval of the shareholders in the AGM.