Raymond re-appoints Gautam Hari Singhania as MD for five years
Raymond re-appoints Gautam Hari Singhania as MD for five years
In a new development Raymond has appointed Gautam Hari Singhania as the firm’s Managing Director for another five years. The shareholders approved the appointment at the Annual General Meeting on June 27. Singhania’s new term commences on July 1, 2024.
Raymond confirmed that this re-appointment complies with the requirements outlined in the Stock Exchange circulars. The decision comes after a recommendation from a proxy advisory firm advising shareholders of Raymond, a leading textile and fabric manufacturer, to vote against the reappointment of Singhania.
The firm called for an independent investigation into accusations of domestic violence and misappropriation of funds made by his estranged wife, Nawaz Modi.
News Edit K.V.Raman
