Gulabchand not to seek re-appointment in Bajaj Electricals

Bajaj Electricals Ltd today said Ajit Gulabchand its independent director will not seek re-appointment in the company's Boards.

"Ajit Gulabchand, independent director of the company has conveyed his intention not to seek re-appointment at the ensuing annual general meeting owing to his busy schedule and commitments on other boards," the company said in a BSE filing.

Gulabchand, director of the company since 1990, will complete current term is scheduled to get over on July 31, 2014, the company added.