| Rahul Bajaj to resign as Mukand chairman |
| BS Reporter / Mumbai July 12, 2007 |
| Rahul Bajaj, chairman of steel firm Mukand, is expected to resign on Saturday and will continue as a director on the board. The present managing directors, Niraj Bajaj and Rajesh Shah, are expected to take over as chairman and co-chairman, respectively. Rahul would resign soon after the annual general meeting of Mukand to be held in Mumbai on Saturday and pass on the baton to his younger brother, Niraj, and close family friend, Rajesh. A board meeting has been called just prior to the AGM to elect the new heads of the company. In the Bajaj Auto AGM held in Pune today, Rahul announced that the Mukand board would decide on the new chairmen as he did not have enough time since June last year, when he became a Rajya Sabha member. Later, Bajaj told Business Standard that he made the comment light-heartedly. |
