P Mukund steps down as MD of Igarashi Motors; sells stake in the company

P Mukund has resigned as the MD of Igarashi Motors India due to personal reasons. The move comes a day after he sold his stake in the company.

R Chandrasekaran, the chief financial officer of the company, will take over as the managing director of Igarashi Motors India for a period of three years effective October 1, 2019.

Igarashi Motors is primarily engaged in the production and export of permanent magnet DC motors for the automotive sector, specifically for passenger cars.

Japan-based Igarashi has increased its take to 75 per cent from 53.85 per cent by acquiring Mukund's share. Mukund, the promoter of