The Hindu Business Line : Devaki Hospital to hold '03 AGM

DEVAKI Hospital has decided to hold the annual general meeting for the fiscal 2003 next month after an interim ruling from Madras High Court permitted its management to call the meeting.

Doctors from the hospital's renal unit hold about 33.5 per cent of the equity, the single largest holding.

Currently, the renal team does not have a presence on the board, but the AGM may see a change in the board composition, said hospital sources.

The renal unit had earlier made an open offer to take over the hospital management.

The AGM had been postponed following a management battle in the hospital.

The issue being taken to the High Court, and an open offer for shares by doctors in the hospital's renal unit who had wanted to take over the hospital management followed this.

When fiscal 2003 ended, the hospital's managing director was Ms Chitra Chockalingam.

The hospital had then announced a net profit of Rs 56.19 lakh on an operating income of Rs 10.05 crore.

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