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Zenotech founder challenges Indian board nod for Daiichi Sankyo's holding

This article was originally published in Scrip

Executive Summary

The slugfest between the founders of the Indian firm, Zenotech Laboratories, and Daiichi Sankyo, which holds a majority stake in Zenotech following its acquisition of Ranbaxy Laboratories in 2008, continues unabated. Zenotech's founders are now legally challenging the validity of the approval granted by India's Foreign Investment Promotion Board (FIPB) concerning the Japanese firm's holding.

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