Gautam Hari Singhania appointed as Executive Chairman of Raymond Lifestyle
Gautam Hari Singhania has been appointed as the Executive Chairman of Raymond Lifestyle after the textiles and fabric maker's shareholders approved the appointment proposal. The special resolution for the «appointment of Gautam Hari Singhania as an executive chairman» of the company and to fix his remuneration received 86.85 per cent of the total votes cast at the Annual General Meeting (AGM).
The resolution was passed with requisite majority, according to the Scrutinizer's Report filed by the company to the bourses on Wednesday evening.
Besides, the shareholders of the company also approved eight other special resolutions regarding the appointment of Independent Directors and Sunil Kataria as the Managing Director of the company.
The Companies Act 2013, mandates that a special resolution needs to be passed by a super majority, which refers to at least 75 per cent of the members voting in favour of it.
Raymond Lifestyle was recently listed on exchanges following the demerger of the lifestyle business from Raymond Ltd. It was listed on stock exchanges on September 5 and Singhania was continuing in both entities.
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