Deals30 Mar 2025, 02:20 am
Family Settlement Agreement Executed Amongst Promoter Group of Electrotherm (India) Ltd
AI Summary
Electrotherm (India) Ltd has received a letter dated 29th March, 2025 from Mr. Mukesh Bhandari and Mr. Shailesh Bhandari, informing about the execution of a Family Settlement Agreement amongst their families. This agreement aims to settle disputes and maintain peace and harmony within the families. The management rights and control over the company and its subsidiaries will be realigned as per the agreement, with Mr. Shailesh Bhandari retaining control. Mr. Mukesh Bhandari and his family will exit from the company and its subsidiaries by transferring shares to Mr. Shailesh Bhandari and tendering resignations.
Key Highlights
- Family Settlement Agreement executed amongst Promoter Group of Electrotherm (India) Ltd
- Agreement aims to settle disputes and maintain peace and harmony within the families
- Management rights and control over the company and its subsidiaries to be realigned
- Mr. Mukesh Bhandari and his family to exit from the company and its subsidiaries
- Mr. Mukesh Bhandari to transfer his shares to Mr. Shailesh Bhandari