Brothers Vinay and Anil Rai _ promoters of the over Rs 4,000 crore Usha India Group _ have reached an understanding on division of responsibilities with regard to various businesses of the group.
According to the understanding arrived at, Vinay Rai will focus on information technology and other technology-driven business of the group while Anil Rai will concentrate on steel and other IT-enabled services.
Conforming the development, Usha (India) chairman and chief executive Vinay Rai told Business Standard that the understanding was mainly informal in nature and could be changed in future depending on the demands of various businesses. "There is no division in the family. The family remains one," Rai emphasised.
The Usha group consists of two steel companies _ Usha Ispat and Malvika Steel _ software company Information Technologies India Ltd and telecommunication company Koshita Telecom.
ITIL is aided by sibling companies, Burbrown India Ltd, which is into low-end IT-enabled services like medical transcription and animation, and Usha GPS, which is into integrated circuit design.
The group has also effected a major management reshuffle that has seen S K Mittal moving to Information Technologies (India) Ltd, the software arm of the group, as managing director from Usha India Ltd.
