Shri V.B. Haribhakti Intends to Step Down from Bajaj Electricals Limited as Independent Director and Chairman of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee
August 03, 2017 at 05:37 am EDT
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Bajaj Electricals Limited announced that Shri V.B. Haribhakti, Independent Director and Chairman of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee has decided to step down from the directorship of the company with effect from August 4, 2017 due to his advancing age.
Bajaj Electricals Limited is engaged in the marketing of various consumer household and industrial goods. The Company operates through two segments: Consumer Products and Lighting Solutions. The Consumer Products segment is engaged in the manufacturing and trading of consumer durables products which includes fans, domestic appliances, kitchen appliances, and non-electrical kitchen aids. The Lighting Solutions segment is engaged in the manufacturing and trading of lighting products which includes light-emitting diode (LED) products, such as lamps, bulbs, battens and ceiling lights in consumer lighting and poles, high mast, street lighting, area lighting, in professional lighting. It also provides various fans comprising ceiling, pedestal, table, wall, personal, domestic, and others. It also involved in the engineering, procurement and commissioning of power transmission and power distribution infrastructure. It operates approximately 2,00,000 retail outlets.
Shri V.B. Haribhakti Intends to Step Down from Bajaj Electricals Limited as Independent Director and Chairman of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee