Hyderabad, Aug. 20

Zenotech Laboratories Ltd (ZLL) has postponed itsboard meeting on Wednesday due to lack of quorum.The Hyderabad-based company, which divested over 40per cent equity to Ranbaxy, is in the thick of acontroversial open offer from Daiichi Sankyo, theJapanese drug-maker, which has acquired Ranbaxy. TheManaging Director of Zenotech, Dr Jayaram Chigurupati,said that the depleted company board (it has only threemembers now) had to finalise financial results for the lastfiscal year and transact statutory business. However,since January, no meeting could be conducted. Thecompany had filed its position before the Company LawBoard (CLB). Wednesday's board meeting has beenadjourned to August 26, as per the Companies Act,Zenotech said in a notice to the stock exchanges. - OurBureau

(This article was published in the Business Line print edition dated August 21, 2009)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.