On Tuesday, the chairman of Bajaj Finance, Rahul Bajaj has declared to step down from his position at the end of this month. Hence, he will continue to serve as Non-Independent Director. Additionally, the Board has approved Sanjiv Bajaj’s appointment as Non-Executive Chairman. This announcement has made after the stock fell further to Rs 3,220 down 6.43 percent on the benchmark BSE.
During the announcement, an official informed that under the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20l5, as amended, Rahul Bajaj, Non-Executive Chairman of the Company, has been at the helm of the Company since it’s setting up in 1987 and the Group for over five decades and the board has decided to demit the office as Chairman of the Board w.e.f. close of business hours on 3l July 2020.”