Kirloskar Industries Limited (KIL), a leading engineering conglomerate in India, has announced the retirement of Mr. Yashwant Sripad Bhave (DIN: 00057170) as an Independent Director from its listed material subsidiary, Kirloskar Ferrous Industries Limited (KFIL).
The retirement, effective from July 15, 2024, was in accordance with a resolution passed by the members of KFIL during their Annual General Meeting held on August 1, 2022.
This change in the board composition of KFIL, a key subsidiary of Kirloskar Industries, has been communicated to the stock exchanges where KFIL is listed, as per the regulatory requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
While no details were provided on the reasons behind Mr. Bhave's retirement or potential replacements, this development is likely to be of interest to investors and stakeholders in both Kirloskar Industries and Kirloskar Ferrous Industries.
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