Business Standard

Tussle at Usha Martin sees Basant Kumar Jhawar's ouster from board

The two factions at the apex of Usha Martin's, of Basant-Prashant Jhawar and Brij-Rajeev Jhawar, have been at odds with each other for a while

Basant Kumar Jhawar
Premium

Basant Kumar Jhawar

Ishita Ayan Dutt Kolkata
Basant Kumar Jhawar, chairman emeritus and a co-founder at Usha Martin, has been voted out from the board of directors by shareholders at an extraordinary general meeting (EGM).
 
The two factions at the apex of Usha Martin’s (one of the largest makers of wire ropes in the world and a leading speciality steel maker here), of Basant-Prashant Jhawar and Brij-Rajeev Jhawar, have been at odds with each other for a while. Each has a shareholding of 25.5 per cent.
 
The EGM was convened on Saturday to seek continuation of Basant Kumar Jhawar, 83, and Brij Kishore Jhawar, 81.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 31 2019 | 11:46 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com