Debt-ridden Usha Martin's Rajeev Jhawar open to family settlement

Firm has been embroiled in a family war that broke out about a few of years ago, and peaked when Prashant Jhawar was removed as non-executive chairman

Debt-ridden Usha Martin's Rajeev Jhawar open to family settlement
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Ishita Ayan DuttDev Chatterjee Kolkata/Mumbai
In the first signs of rapprochement amid a pitched battle for the control of Usha Martin, Rajeev Jhawar, one of the promoters, has said he is open to a settlement. 

The two promoter factions — Brij Jhawar and his son Rajeev Jhawar, currently the managing director, on the one side, and chairman emeritus Basant Kumar Jhawar and his son Prashant Jhawar on the other side — have an equal share of 25.5 per cent each in Usha Martin, the most prized entity in the group. A family settlement will, however, include other companies, too, like Usha Martin Education & Solutions, Usha

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First Published: Jan 30 2018 | 9:39 PM IST

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