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Zenotech board meet adjourned

Hyderabad, Aug. 20

Zenotech Laboratories Ltd (ZLL) has postponed its board meeting on Wednesday due to lack of quorum. The Hyderabad-based company, which divested over 40 per cent equity to Ranbaxy, is in the thick of a controversial open offer from Daiichi Sankyo, the Japanese drug-maker, which has acquired Ranbaxy. The Managing Director of Zenotech, Dr Jayaram Chigurupati, said that the depleted company board (it has only three members now) had to finalise financial results for the last fiscal year and transact statutory business. However, since January, no meeting could be conducted. The company had filed its position before the Company Law Board (CLB). Wednesday's board meeting has been adjourned to August 26, as per the Companies Act, Zenotech said in a notice to the stock exchanges. - Our Bureau

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