With the High Courts at Hyderbad and Chennai approving the scheme of amalgamation of Ranbaxy-owned Vorin Laboratories Ltd (VLL) and the Chennai -based Shriram Group promoted Medicorp Technologies India Ltd. (MTIL) with the Hyderabad based Matrix Laboratories Ltd (MLL), the boards of the pharmaceutical companies have decided to convene their meetings next week.

The key agenda for these meetings was to fix the record date for the purpose of ascertaining the eligibility of shareholders who were entitled to receive the shares of Matrix in exchange of shares held in Medicorp and Vorin as per the agreed swap ratio.

The board meetings of both Matrix Labs and Medicorp Technologies would be held on May 18, while that of Vorin Labs was fixed for May17.

In a communiqué to stock exchanges on Saturday, the three companies said that they would also take note of the orders received from the High Courts of Hyderabad and Chennai.

While April 1,2002 was fixed as appointed date for the scheme of amalgamation, the shareholders of Medicorp Technologies and Vorin Labs would get two shares of Rs. 10 Each of Matrix Labs for every 13 shares of Rs 10 each held by them.