Bajaj Auto announced that Rahul Bajaj has tendered his resignation as Non-Executive Director and Chairman of the Company with effect from close of business hours on 30 April 2021.
The Board has approved the appointment of Rahul Bajaj as Chairman Emeritus of the Company for a term of five years with effect from 1 May 2021.
Niraj Bajaj, Non Executive Director of the Company has been appointed as Chairman of the Company with effect from 1 May 2021.
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It’s the end of an era at Bajaj Auto. Effective May 1, Rahul Bajaj, Bajaj Group patriarch who has been at the helm of the company for over five decades, will move to the role of chairman emeritus, making way for his younger sibling Niraj Bajaj.
This follows his resignation from the holding company Bajaj Holdings & Investments and listed companies that include Bajaj Auto and Bajaj Finserv, on January 30, 2020. He had been wholetime director and chairman of the automobile-making arm since April 1, 1970.
“Rahul Bajaj has resigned as non-executive director and chairman of the company. He has been appointed as chairman emeritus of the auto major for a term of five years with effect from May,” the company said in a stock exchange notification.
At meeting held on 29 April 2021The Board of Bajaj Holdings & Investment at its meeting held on 29 April 2021 has approved the appointment of Dr. Omkar Goswami as an Additional Director and as an Non-executive Independent Director for a period of 5 years effective from 1 May 2021.
Considering the increasing roles and responsibilities in various Bajaj group entities, Niraj Bajaj has expressed his intention to relinquish his position as Chairman of the Company with effect from close of business hours of 30 April 2021. However, considering his valuable performance as Chairman of the Company over the past two years and to
leverage his experience, the Board at its meeting held today, has approved the appointment of Niraj Bajaj as the Non-executive Vice-chairman of the Company with effect from 1 May 2021.
Bajaj Auto chairman and Non-Executive Director Rahul Bajaj resigns sandesh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandesh.com Daily Mail and Mail on Sunday newspapers.
India s Sensex soars by 790 points
By: ANI
Mumbai: Equity benchmark indices shot up for third consecutive day on Wednesday after strong fourth quarter corporate earning results with auto and banking scrips leading the rally.
The BSE S&P Sensex closed 790 points or 1.61 per cent higher at 49,734, while the Nifty 50 moved up by 212 points or 1.44 per cent to 14,865. Investors said the recent upmove in market is based on expectation that FY22 will remain strong for the economy though the second wave of COVID-19 may hit earnings in the first quarter.
Except for Nifty metal, pharma and realty which dipped marginally, all sectoral indices at the National Stock Exchange were in green zone with Nifty private bank surging by 3 per cent, PSU bank by 2.6 per cent, financial service by 2.9 per cent and auto by 1.7 per cent.