Hindustan Composites Completes Friction Business Slump Sale

Hindustan Composites Ltd has completed the slump sale of its Friction Business Undertaking to Rane (Madras) Limited (RML) effective August 20, 2026. As part of the agreement, several Senior Management Personnel (SMPs), including Mr. Nakuleshwar Chatterjee and Mr. G. M. Indapawar, have been transferred to RML. Additionally, Managing Director and KMP, Mr. Pawan Kumar Choudhary, has resigned from his KMP roles to facilitate his transfer to RML, though he remains a Non-Executive Director. This divestment is a significant strategic move for the company.