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Rahul Bajaj Steps Down As Chairman Of Bajaj Auto

Mr Rahul Bajaj’s appointment as non-executive chairman got here into impact from April 1

Highlights

  • Mr Rahul Bajaj has been the director of the corporate since April 1, 1970
  • Mr Niraj Bajaj will change him as Chairman, with impact from Could 1
  • Bajaj Auto reported a web revenue of ₹ 1,551.28 crore in March quarter

Bajaj Auto chairman Mr Rahul Bajaj resigned from the manager position on Thursday, April 29. Mr Niraj Bajaj, Nonexecutive Director of the Firm will probably be appointed because the Chairman of Bajaj Auto, with impact from Could 1, 2021, changing Mr Rahul Bajaj. Based on a regulatory submitting by the auto main to the BSE right this moment, Mr Rahul Bajaj, contemplating his age, tendered his resignation as non-executive Director and Chairman of the corporate. Mr Rahul Bajaj’s appointment as non-executive chairman got here into impact from April 1, 2021, and has now stepped down from the position on the finish of the present time period. (Additionally Learn: Bajaj Auto Chairman Rahul Bajaj To Step Down From Government Position )

”Shri Rahul Bajaj, Non-executive Chairman of the Firm, having been on the helm of the Firm since 1972 and the Group for 5 a long time, contemplating his age, has tendered his resignation as non-executive director and Chairman of the Firm with impact from shut of enterprise hours on 30 April 2021,” mentioned Bajaj Auto in its assertion right this moment. Mr Rahul Bajaj has been a director of the corporate since April 1, 1970, in accordance with Bajaj Auto. He was final reappointed by the board of the corporate for a five-year time period beginning April 1, 2015.

Bajaj Auto mentioned that Mr Rahul Bajaj has made a large contribution to the corporate’s development during the last 5 a long time. Contemplating his wealthy expertise, and within the curiosity of the corporate’s profit to derive from his data, the Board of Administrators accepted the appointment of Mr Rahul Bajaj as Chairman Emeritus of the Firm for a time period of 5 years with impact from Could 1, 2021. This will probably be taken up on the forthcoming annual assembly for the approval of shareholders. (Additionally Learn: Bajaj Auto Revenue Rises 15% To ₹ 1,551 Crore In March Quarter; Shares Decline )

Bajaj Auto reported a consolidated web revenue of Rs 1,551.28 crore within the January-March quarter of the monetary yr 2020-21, marking a 14.57 per cent enhance from Rs 1,353.99 crore within the corresponding quarter final yr. The corporate’s complete income from operations jumped 26 per cent to Rs 8,596.10 crore. On Thursday, Bajaj Auto shares settled 1.44 per cent decrease at Rs 3,834.25 apiece on the BSE.

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