Tribhovandas Bhimji Zaveri Ltd becomes a GRT Jewellers subsidiary after transfer of 74.12% stake
- Former promoters ceased to hold shares and were declassified from the promoter group.
- MD Shrikant Gopaldas Zaveri and Whole-Time Directors Binaisha Shrikant Zaveri and Raashi Shrikant Zaveri resigned effective at the board meeting’s close.
- Two GRT representatives were appointed Managing Directors for five-year terms, subject to shareholder approval; K N Jeethendra Babu was appointed Deputy CEO.
- Share purchase agreement amendments converted specified release conditions into post-completion obligations.