Akzo Nobel India’s board has approved a proposal to change the company name to JSW Dulux Limited, pending shareholder and government approvals. The board also approved seeking shareholder approval for the appointment of Mr. Parth Sajjan Jindal as a Non-Executive Non-Independent Director and Chairman, and Mr. Shantanu Maharaj Khosla as an Independent Director. A change in designation for Mr. Rajiv Rajgopal was also proposed.
Proposed Name Change to JSW Dulux Limited
The Board of Directors has approved a proposal to change the company’s name from Akzo Nobel India Limited to JSW Dulux Limited. This change is subject to receiving approval for name availability from the Ministry of Corporate Affairs. Final approval from the shareholders of the Company and the Central Government/Ministry of Corporate Affairs is also required, in compliance with the Companies Act 2013.
Leadership Appointments and Changes
The Board has also approved seeking shareholder approval for the following key appointments and designation changes:
- Appointment of Mr. Parth Sajjan Jindal (DIN: 06404506) as a Non-Executive Non-Independent Director and the Chairman of the Board.
- Appointment of Mr. Shantanu Maharaj Khosla (DIN: 00059877) as an Independent Director of the Company.
- Change in designation of Mr. Rajiv Rajgopal (DIN 06685599) from Chairman and Managing Director to Joint Managing Director & Chief Executive Officer.
Shareholder Approval via Postal Ballot
The proposals for these Special Businesses will be put to a vote of the shareholders via Postal Ballot, utilizing a remote e-voting process. The notice of the Postal Ballot, along with explanatory statements and other necessary details regarding the e-voting process, will be submitted in due course.
Source: BSE
