Shrikant Zaveri resigns as MD; GRT Jewellers acquires 74.12% stake

Tribhovandas Bhimji Zaveri Ltd announced that its Managing Director, Mr. Shrikant Zaveri, has resigned. This follows the completion of a share purchase agreement where GRT Jewellers (India) Private Limited acquired 74.12% of the company's equity shares from the erstwhile promoters. Consequently, the sellers have ceased to be promoters and the company is now a subsidiary of GRT Jewellers. The Board also noted the appointment of Mr. Govindarajulu Rajendran as a Non-Executive Director, subject to shareholder approval.