Billionaire businessman Azim Premji gifted 1 crore shares worth Rs 500 crore to his sons, Rishad and Tariq. Rishad is currently the chairman of Wipro, while Tariq is the vice president of Azim Premji Endowment Fund. With this transaction, Azim Premji now owns 4.12% of Wipro.
On January 23, Azim Premji transferred over 51 lakh shares each to his sons, Rishad Premji, who is the chairman of Wipro, and Tariq Premji, serving as Wipro Enterprises non-executive director.
Azim Premji, 78, owned 22,58,08,537 shares, or 4.32%, in Wipro until last week. On 20 January, Premji gave 51,15,090 shares, each, to elder son Rishad, who is the chairman of Wipro, and to Tariq, who works at Azim Premji Foundation.
13, 17.309 equity shares were lendered and accepted pursuant to the buyback by the Company on September 9, 2019 at a price ofRs. 3251- per equity share. This is part ofthe. | June 6, 2023
HC relief to Azim Premji, wife
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They were accused of violating the Companies Act, 2013
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They were accused of violating the Companies Act, 2013
In a relief to Azim H. Premji, former Chairman and Managing Director of Wipro, and his wife, the Karnataka High Court has set aside an order passed by a city civil and sessions court for restoration of a private complaint for allegedly not disclosing information of a company of which they were directors in violation of Companies Act, 2013.
Also, the court upheld dismissal of another private complaint against them for allegedly violating a provision of the Reserve Bank of India Act, 1934, in relation to operation of non-banking finance companies sans registration.