Business Update27 Jun 2026, 07:10 pm
Rexnord Electronics Executes Labour Supply Agreements
AI Summary
Rexnord Electronics & Controls Ltd. has executed Labour and Manpower Supply Agreements with related parties, M/s. S. K. Management Services and M/s. R. K. Management Services. These agreements, effective from June 1, 2026, to March 31, 2027, aim to source, recruit, and deploy personnel across various operational departments. The agreements are subject to an administration/service charge of 3% on the net monthly wage bill, with an overarching budgetary limit of INR 10 crores. The transactions are considered related party transactions and are stated to be at arm's length.
Key Highlights
- Rexnord Electronics signed labour supply agreements with related parties.
- Agreements are for sourcing and deploying personnel across operational departments.
- Agreements valid from June 1, 2026, to March 31, 2027.
- Service charge is 3% with a budget limit of INR 10 crores.
- Transactions are at arm's length.
Price Impact
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