Khaitans step down from Eveready board after Burman Group open offer

For the first time, Khaitans won't be represented on firm's board since they acquired Union Carbide India in 1993 and renamed it Eveready Industries India. But they will continue to hold 4.84% stake

Brij Mohan Khaitan family members stepped down from the board of the country’s largest dry cell battery maker, Eveready Industries India, on Thursday, following an open offer and expression of interest from the Burman family to take control of the company.

This would be the first time that the Khaitans would not have representation on the board of the company since its acquisition. Eveready came under the Khaitan fold in 1993 when it acquired Union Carbide India (renamed Eveready Industries India). The Khaitans, however, continue to hold 4.84 per cent in the company.

Eveready informed stock exchanges on Thursday that