‘SK Group’ wants ‘public’ tag for SBL stake

Suresh Krishna, chairman of Sundram Fasteners Ltd., along with the various members of the ‘SK Group,’ have sought the reclassification of their shareholding in Sundaram Brake Linings Ltd. (SBL) from that of ‘promoters and promoter group’ to ‘public.’

In a letter addressed to the board of Sundaram Brake Linings, Mr. Krishna said that he along with Suresh Krishna HUF, Usha Krishna, Arathi Krishna, TVS Upasana Ltd and Sundram Fasteners Investments Ltd. (collectively called as SK Group) hold less than 10% of shares, they do not exercise control over the affairs of the company, do not have any special rights nor hold key managerial positions in the company.

He further requested the company to reclassify ‘SK Group’ as ‘public’ in accordance with regulations 31A of the SEBI, (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company said in a regulatory filing.

In response, the company said that the matter will be placed before the next board meeting for further action.

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Printable version | Aug 1, 2022 12:18:46 am |