Considering the increasing roles and responsibilities in various Bajaj group entities, Niraj Bajaj has expressed his intention to relinquish his position as Chairman of the Company with effect from close of business hours of 30 April 2021. However, considering his valuable performance as Chairman of the Company over the past two years and to leverage his experience, the Board at its meeting held today, has approved the appointment of Niraj Bajaj as the Non-executive Vice-chairman of the Company with effect from 1 May 2021.

Consequent upon the relinquishment of position of Chairmanship by Niraj Bajaj with effect from close of business hours of 30 April 2021, the Board at its meeting held today, approved the appointment of Shekhar Bajaj as an Additional Director and as Non Executive Director and Chairman of the Company with effect from 1 May 2021.