Zen Technologies has informed that the Board of directors of the Company at its meeting held today February 24, 2024) has considered and approved: the acquisition (51%) of AiTuring Technologies (ATPL) with a consideration of about ~?3.87 Crores, which will become a subsidiary of the Company upon acquisition. The details, as required to be disclosed under Regulation 30 of the Listing regulations read with the SEBI circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are also enclosed as Annexure-1; and 2. the constitution of ‘Investment and Finance Committee’, pursuant to the powers vested with the Board of Directors under section 179 of the Companies Act, 2013, to deal with the following matters from time to time: a) invest the funds of the Company; and b) grant loans or give guarantee or provide security in respect of loans. The Board also decided to seek approval of the shareholders through postal ballot / general meeting in respect of certain other items. The meeting of Board of directors was commenced at 9:00 am (IST) and concluded at 10:10 am (IST). The above information is also being made available on the website of the Company at https://www.zentechnologies.com/outcome-of-board-meetings.
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