Rahul Bajaj of Bajaj Auto is set to become the chairman of Mukand Ltd, replacing Viren Shah who will resign to take charge as the Governor of West Bengal. Bajaj is the vice-chairman of the board of directors of Mukand Ltd. Shah is also relinquishing all posts currently held in different companies.
M K Jalan, managing director of Keventer Agro Ltd, said Shah was still the chairman of his company. But after news of his being appointed Governor, Jalan said the company would be looking into the matter in the light of the new development.
Shah, the septugenarian industrialist, is the head of the Rs 1300 crore Mukand Ltd. He is also chairman of Keventer Agro apart from his connection with many other industrial groups, notably the Bajaj group.
The induction of Rahul Bajaj as chairman of Mukand Ltd will in all probability change the company's profile. Bajaj is known to be more aggresive as an industrialist. Mukand will still have Rajesh Shah, son of Viren Shah, as MD who happens to be the CII chairman at present. Niraj Bajaj, brother of Rahul Bajaj,is the other managing director of Mukand Steel.
