- 11:0AUTOIII
REGO. & COR P. OFFI CE: 38 KM STONE , DELHI-JAI PUR HIG HWAY , GURUGRAM -122001, HARYANA (INDIA)
EMAIL: rico@rlcoauto.in WEBSITE : www.ricpauto.in TEL.: +91124 2824000 FAX: +91124 2824200
CIN: L34300HR19 83PLC 023187
RAIL:SEC:2022 | August 26, 2022 |
BSE Limited | National Stock Exchange of India Limited |
Phiroze Jeejeebhoy Towers | Exchange Plaza, |
Dalal Street | 5th Floor, Plot No.C/1, G Block |
Mumbai - 400001 | Bandra-Kurla Complex, Sandra (E) |
Mumbai - 400 051 | |
Scrip Code - 520008 | Scrip Code - RICOAUTO |
Sub : Outcome of Board Meeting held on 25th August, 2022
Dear Sir/Madam,
Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors have approved the following in the aforesaid meeting:
1.
2.
Mr. Kaushalendra Verma who is presently Managing Director of Rico Fluidtronics Limited, a Subsidiary of Rico Auto, ha� been appointed as "Whole-timeDirector" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.
Mr. Rajiv Kumar Miglani who is presently Managing Director of Rico Aluminium and Ferrous Auto Components Limited (RAFA), a Subsidiary of Rico Auto, has been appointed as "Whole-timeDirector" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.
- Mr. Samarth Kapur, son of Mr. Arun Kapur, who is presently Whole-time Director of Rico Jinfei Wheels Limited, a Subsidiary .of Rico Auto, has been appointed as "Whole-timeDirector" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.
- Mr. Hemal Bharat Khandw�la has been appointed as "Independent Director" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.
5. Mr. Arun Kapur, Joint Managing Director (Promoter Director) has desired to discontinue as Director and consequently as Joint Managing Director of the Company with effect from close of business hours on 25th August' 22 to make place for his son, Mr. Samarth Kapur who has been appointed as Whole-time Director of the Company w.e.f. 26th August' 22 to carry forward the vision of the Company. Mr. Arun Kapur has made major contribution to the success of the Company over the last 38 years right from its inception with his vast experience, knowledge and wisdom from time to time.
IAUTOIII
REGO. &'COR P. OFFI CE: 38 KM STONE, DELHI-JAI PUR HIG HWAY , GURUGRAM-122001, HARYANA (INDIA)
EMAIL: rico@ricoauto.in WEBSITE : www.ricoauto.in TEL.: +91124 2824000 FAX: +91124 2824200
CIN: L34300HR19 83PLC 023187
- Mrs. Upasna Kapur, Promoter Director, who is retiring by rotation, has desired not to continue as Director, to make way for induction of Professional Directors, from the conclusion of the forthcoming Annual General Meeting.
- The following Committees of Board of Directors have been re-constituted. The revised composition of the Committees are given below:
1. Stakeholders Relationship. Committee SI. No. Name
1. Dr. Amariit Chopra
- Mr. Vined Kumar Nagar
- Mr. Samarth Kapur
2. Corporate Social Responsibility Committee
SI. No. Name | ' | |
1. | Mr. Rajeev Kapoor | |
- Dr. Ashok Seth
- Mr. Vined Kumar Naqar
- Mr. Samarth Kapur
3. Risk Management Committee
SI. No. | Name |
1. | Mr. Raieev Kapoor |
2. | Mr. Kanwal Monga |
3. | Dr. Amariit Chopra |
4. | Mr. Arvind Kapur |
5. | Mr. Kaushalendra Verma |
6. | Mr. Raiiv Kumar Miqlani |
Desiqnation in the Committee
-
Chairman
Member Member
Designation in the Committee
Chairman
Member
Member
Member
Desiqnation in the Committee
Chairman
Member
Member
Member
Member
Member
The requisite disclosure as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is enclosed herewith as Annexure A
The Board Meeting commenced at 4.45 PM and concluded at 5.00 PM.
Thanking you,
Yours faithfully,
for Rico Auto Industries Limited
�lr.'jiW>
8.M.Jha,� Company Secretary FCS: 2446
Encl : As above
- Rlf:OAUTOIII
REGO. & CORP. OFFICE: 38 KM STONE, DELHI-JAIPUR HIGHWAY, GURUGRAM-122001, HARYANA (INDIA)
EMAIL: rico@ricoauto.in WEBSITE: www.ricoauto.in TEL. : +91 124 2824000 FAX: +91 124 2824200
CIN: L34300HR1983PLC023187
Annexure A
Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated
September 9, 2015
Name | Mr. Kaushalendra | Mr. Rajiv Kumar | Mr. Samarth | Mr. Hemal Bharat | ||||||||
Verma | Miglani | Kapur: | Khandwala | |||||||||
Reason for | Appointment of | Appointment of | Appointment of | Appointment of | ||||||||
change | Whole-time Director | Whole-time Director | Whole-time Director | Independent Director | ||||||||
Date of | 26th August' 22 | 26th August' 22 | 26th Au�ust' 22 | 26th August' 22 | ||||||||
Appointment | 3 years | |||||||||||
and | 3 years | 3 years | 5 years | |||||||||
Terms of | ||||||||||||
Apointment | ||||||||||||
Brief Profile | Enclosed as | Enclosed as | Enclosed as | Enclosed as | ||||||||
Annexure B | Annexure C | Annexure D | Annexure E | |||||||||
Disclosure of | None | None | Son of Mr. Arun Kapur | None | ||||||||
relationship | and Nephew of | |||||||||||
between | Mr. Arvind Kapur | |||||||||||
Directors | ||||||||||||
Others | He is not debarred from | He is not debarred from He is not debarred from He is not debarred from | ||||||||||
holding the office of | holding the office of | holding the office of | holding the office of | |||||||||
Director by virtue of any | Director by virtue of any | Director by virtue of | Director by virtue of any | |||||||||
SEBI Order or any other | SEBI· Order or any | any SEBI Order or any | SEBI Order or any other | |||||||||
such authority. | other such authority. | other such authority. | such authority. | |||||||||
I
REGO. & COR P. OFFI CE: 38 KM STONE , DELHI-JAI PUR HIG HWAY , GURUGRAM -122001, HARYANA (INDIA)
EMAIL: rico@ricoauto.in WEBSITE: www.ricoauto.in TEL.: +91124 2824000 FAX: +91124 2824200
CIN: L34300HR1983PLC 023187
Annexure B
Brief Profile of Mr. Kaushalendra Verma (KV)
Mr. Kaushalendra Verma has more than 30 years of experience, in Profit Centre Management, Business Development, Technology Transfers, Greenfield Projects, Program Management, Manufacturing Engineering, Manufacturing and Quality Assurance. He possesses strong leadership skills in planning, organizing, systematic analysis, people management, and team building. He can lead and motivate a large team of people, streamlining workflow and creating an environment for teamwork to enhance Productivity. He is associated with Rico Group for last 14 years. He is currently serving as Managing Director of Rico Fluidtronics Limited.
Mr. Verma is well versed in the concept of Lean manufacturing and has implemented its tools to improve operational efficiencies, decrease capital investment and maximize the· enterprise's profitability. He has good knowledge of procurement processes - sourcing of capital machinery ;;:ind equipment, raw materials, and components from local and overseas suppliers as well as policies and procedures related to foreign trade.
He spent 21 years (March 1997 to June 2019) as Country Head/Managing Director with Delphi Automotive Systems, Magna Powertrain Inc. and Magna Rico Powertrain Pvt. Ltd. leading a P & L role for a region, responsible for business strategy for entry and growth in the region. From September 1994 to March 1997 he was associated Northwest Switch Gears Limited and Minda HUF Limited. He started his carrier by joining DLF Industries Ltd. as GET in March 1991 and served in various capacities till 1993.
He currently serves as a Director on the Boards of Rico Jinfei Wheels Limited, Rico Friction Technologies Limited and Rico Care Foundation and managing multi location plants.
He completed B.E. in Industrial Eng_ineeringfrom Nagpur University in 1991. He has been part of multiple Senior Executive Programs -
- Senior Executive Program of two-week leadership enhancement program at Hong Kong from Ross School of Business, University of Michigan;
- Lean Manufacturing Workshop a two-week workshop at La Rochelle, France on implementing lean to meet business objectives, and developing solutions tha't improve operational efficiencies; and
- Manufacturing Academy - Two Week workshop at Shanghai, China on understanding of Kaz Nakada manufac�uring tools for lean implementation.
REGO. & COR P. OFFICE: 38 KM STONE , DEL HI-JAI PUR HIG HWAY, GURUGRAM -122001, HARYANA (INDIA)
EMAIL: rico@ricoauto.in WEBSITE: www.ricoauto.in TEL.: +91124 2824000 FAX: +91124 2824200
GIN: L 34300HR19 83PLC 023187
Annexure C
Brief Profile of Mr. Raiiv Kumar Miglani
Mr. Rajiv Kumar Miglani has exposure of more than 38 years in Industrial and Administrative experience in the Automotive and Engineering Industry and is well versed in all aspects of general administration and is currently serving as Managing Director of Rico Aluminium and Ferrous Auto Components Limited since August 2019.
Mr. Miglani is associated with RICO group for last 23 years and is heading Iron Foundry, Aluminium Die Casting and Machining operations in multi location plants. He has played key role in development of automation and special purpose machines.
He had worked with two car manufacturers Maruti Udyog Limited and Daewoo Motors India Limited for 15 years (1995 to 1999) in manufacturing before moving to his current assignment. He got trained in Japan and Korea in shop floor operations.
He worked with New Allenbury Works as Industrial Engineer in 1983. He spent 10 years (1985 to 1995) as Executive Machine shop (Cam shaft, Crank shaft, and Transmission case line). In 1999 he left Daewoo Motors India Limited as Head Machine Shop and initiated his career with Rico Auto Industries Limited and is serving as Sr. Vice President.
He completed Diploma in Mechanical Engineering (1980 to 1983). He has been part of workshops & certifications from Japan, Korea and India on machining line, balancing operations in Nagahama and Toyoda Grinding Works, Tig Welding on Cam Lobes, Leadership Management Course and Finance for Non-Finance Executives.
He currently serves as a Director on the Boards of AAN Engineering Industries Limited and Magpie Manufacturing and T�ch Private Limited.
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Rico Auto Industries Ltd. published this content on 26 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2022 09:40:02 UTC.