BUTTERFLYGANDHIMATHIAPPLIANCES
LIMITED
March
30, 2022
General
Manager
Dept. of Corporate BSE Ltd,
Floor l, P J Towers, Dalal Street,
Mumbai
400 001
-
Scrip: 517421
Sub:
Outcome limited
Re:
Regulation 30 of SEBI (Listing Obligation and Disclosure
as
amended
Dear Sir/Madam,
This is to inform
-
DCS, Services,
of the meeting of the Board of Directors
("Company") held on March
("Listing Regulations")
you
that the Board
today has inter alia approved I noted
I Manager,
National Stock Exchange of India Ltd Exchange Plaza,
Sandra Kurla Complex. Sandra (E),
Mumbai - 400 051
Scrtp : BUTIERFL Y
of Butterfly Gandhimathi
30, 2022
AppliancesRequirements)
Regulations,
2015,
of Directors the following:
of the Company ("Board") at their meeting held
I
1.
Change in the Boardcomposition
(a) The Board has approved the following appointments with immediate
effect:
S.No 1.
Nameof Director
Mr Rangarajan Sriram (DIN: 09550640)
2.
Mr.
Shantanu
Maharaj Khosla
(DIN: 00059877)
3.
Positions
I Additional
Director
Managing Director
1n the capacity of
Additional Non-Executive Director.
-
Directorin
the of
capacity
I Non
Independent
Mr. Mathew
Job
(DIN: 02922413)
Additional Non-Executive Director.
Director
in
the capacity of a
I Non
Independent
I
(b) The business
The aforesaid appointments are subject to approval of the shareholders from the date of appointment.
within | 3 months | |
Board also | from | close |
on
took
on
record 30, 2022:
the following resignations
with
effect
ofhoursMarch
S. No 1.
2.
Name Mr.
of Director
V
M
Lakshminarayanan
(DIN: 00106346)
Mr. V M Balasubramaniam
(DIN· 00106428)
Regd.offlce:
143,Pudupakkam
V,llage.Vandalur
Chengalpattu District. PhonePositions Chairmanand Managing Director
Vice Chairman
and Managing
Kelambakkam Road, Kelambakkam
Director
Pin 603 103.
-
-
+91-44-47415500
CIN No. 128931TN1986PLC012728.
Corporate
office:
E-mail: | ||
E-34.11 Floor | Raj1v Gandhi | Chengalpattu |
49005100/5120 | com |
-
gmal@butterftyind1a.com
web
www
butterflymdra.com
Satar. Egattur Village, Navalur
Phone·
044
603
130
butterflyho@butterfly1nd1a
District
3.
Mr. V M Seshadri
(DIN: 00106506)
4. Mr. V M Gangadharam (DIN: 00106466)
5.
Mr. V M Kumaresan
(DIN: 00835948)
The
Board
placed on record
during their term
as the directors
Further, the disclosures
its appreciation
Managing Director
ExecutiveExecutivefor
of the Company.
their
as required under Regulation 30 of the Listing Regulations read withSEBI Circular no. CIR/CFD/CMD/4/2015 dated September
DirectorDirector
Technicalvaluable
contribution
09, 2015
and
are
given in Annexure
support
1.
2. Completion of transaction 22,2022:
others,
envisaged under
In furtherance
of our executionthe
earlierdisclosure dated
of a Share Purchasethe
Share
February 22, 2022
Agreement
Greaves
Consumer
Electricals
Limited ("Crompton")
andPurchase
Agreement
dated
February
in connection
with, amongand hasby the certain taken
Company members
promoter
group
of the
Company,
98,33,754
the
Board
on
record
with of the the
Crompton promoter transfer
of
equity sharescertain
representing
members
of the promoter
55.00% of the equity share capital of the Company by
and promoter
group of the Company to Crompton.
3. Noting of CromptonConsequent Crompton
to the acquisition of the Sale Shares and appointment
to the Board, w.e.f.
acquired sole control
as being in sole control
over
Kindly take the above on record.
For Butterfly Gandhimathi
.?.?
Deputy Company Compliance Officer
of the Company
March
30, 2022, the Board has noted
the Company and has become the promoter
of representatives of that Crompton has of the Company.
Appliances
Limited
Secretary
cum
ANNEXURE
I
1.
Appointment of Mr Sriram Rangarajan (DIN: 09550640) as an Additional Director capacity of a Managing Director
S. No
1. Reason
Particulars for ChaAge
appointment,
Fernoval aeath
viz.
1 Pursuant
Remarks to completion of the transactions
FesigAation,
contemplated
OF otherwiseunder
Agreement amongst Electricals members
group
dated
February 22, 2022 entered
Crompton
Limitedof the
promoter
of the
Crompton
Sriramhas
Company, nominated
to be appointed as a director
Company.
2. Date of Appointment/CessatioA Mr Rangarajan Sriram
& term
3. Disclosure between
of appointmentappointment
4. Information
of directors
relationships
(in case
of a director}
of
required
pursuant
to
circularissued
by (a} BSE
Limited
bearing
ref.
no.
LIST/ order by SEBI or any other such authority.
COMP/ 14/ 2018- 19 and (b} the INational Stock Exchange of India
Ltd bearing
ref.
no.
2018/ 24, both dated 2018.
5. Brief Profile
as an Additional
theShare Purchase
Greaves
("Crompton"),
andhas
Director with
in the capacity ofManaging
Director
effect
30, 2022 for a period of two
to shareholders'
approval.
Mr Rangarajan Sriram
directors
is not to any
of the Company.
Mr Rangarajan Sriram is
not debarred
holding the office of directorConsumerand the
certain promoter Company
Mr Rangarajan
been
appointed
from years, related
by virtue
NSE/ CML/
in the
of the
March subject
from of any
20th
I
June,
Mr.
Rangarajan
Mechanical in Business
Sriram
holds
Diploma in
Engineering, Bachelor's
degree
Administration
and holds
Graduate
Diploma
in
Marketing
a Post from
Symbiosis. He has over 26 years of rich and
varied durables
work sector.
experience
He
hasin the a keen
consumer
and
understanding of the sales, distribution,
marketing processes durables space.
deep and
I
in
the
consumer
Mr.
Butterfly, 2012. business
Rangarajan
Sriram | joining | ||
joined | Crompton | Greaves | Ltd. in |
Post | the | de-merger | of the |
consumer
been
Crompton
Limited
heading
prior
to
from Crompton
business of | ||
Greaves | Consumer | Electricals |
August, | 2015. |
Gre;ives Fans
Ltd he has
the
sinceHe has
worked
with
Kores
Ltd, Matsushita
'--??..1.- ???????????? ..L-!(_P_an_a_s_o_n_ic?),?h_ai_rnl?dpw_oiot_hlW_. ???? -'
__
2. Appointment
of Mr
Shantanu
capacity of a Non-ExecutiveKhosla Director
(DIN: 00059877) as an Additional
Director
in the
S. No
Particulars
1. Reason for Change ,·iz, appointment, I Pursuant HFe?gsr?tnti+ciatt-Ot-tt-1-+A-"re'"?"m"f,tttlO>Y-VJ.tilt---<><>ttrRan-9sa!'ctions
to
Remarks completion cont em p Iat ed
otf:lerwise
2. Date term
of
of appointment
3. Disclosure directors director)
4. Information circular bearing
Appointment/Cessationof relationships
(in case
between
of appointment
of a
required
pursuant
to
issued ref.
by (a) BSE Limited
no.
LIST/ COMP/
14/
2018-19 and
(b) the
National
Stock
Exchange of India Ltd bearing ref. no.
NSE/ CML/ 2018/ 24, both dated
June, 2018.
5. Brief Profile
share
purchase
February 22, 2022
Crompton
ElectricalsGreaves Limited
certain
members of the promoterpromoter group the Company
of under
agreement enteredthe the dated
amongst
Consumer
("Crompton"),
of the Company, andCrompton
nominated
Mr
Shantanu
MaharajKhosla to be appointed as a Director the Company.
&
andhas
of
Mr Shantanu appointed
as
the capacityDirector,
Maharaj Khosla has been
an
Additional
of
Non-Independent
with
effect
from
subject to shareholders'
a
Director Non-ExecutiveDirector
March
30,
2022,
approval.
Mr
Shantanu
Maharaj Khosla is
related
to
any
directors
Company.
Mr
Shantanu
Maharaj Khosla
debarred director
from by virtue
holding the office of
of
any
order
or any other such authority.
20th
in
of
not theis not
by SEBI
Mr. Shantanu Bachelor's Engineering Technology,
Maharaj Khosla holds a degree in Mechanicalfrom Indian
Institute
of
Bombay and MBA from
Indian | Institute | of Management, |
Calcutta. | Prior | joining Crompton |
Greaves | Consumer | Electricals Limited |
to
(CGCEL), he served
as the Managing
Director
and Chief
Executive
(CEO) of Procter & Gamble
Officer from July
2002
to June
2015.
Mr. been
Shantanu working
Maharaj with
Additional
Director
since
2015 and as Managing
Khoslahas
Crompton September
as
Directorsince
I January
2016.
Job (DIN: 02922413) as an additional
3.
Appointment
of Mr Mathew
of a non-executive
S. No
1. Reason
Particulars for Change viz. appointment,
resignatien, etherwise
2. Date term
of Appointment/Cessatien & Mr.Mathew
of appointment
3. Disclosure
director
rerneval
of relationships
Eleath
between
directors a director)
(in case
of appointment
4. Information circular bearing
issued ref.
2018- 19 and
required pursuant
no.
(b) the
Exchange of India
er
of
to
by
(a) BSE Limited LIST/ COMP/ 14/
National
Stock
Ltd bearing ref. no.
NSE/ CML/ 2018/ 24, both dated 20th
June, 2018.
5. Brief Profile
Pursuant transactions share
to
completion contemplated
purchase
February Crompton Limited
22,
Greaves
("Crompton"), certain
of the promoter
director
in the capacity
Remarksof under
2022
agreement entered
Consumer
amongst Electricals members
and promoter
the
Crompton
Company,
has
and nominated
the
Company Mr.Mathew
Job to be appointed as a director
the the dated
group
of
of the
Company.
Job has been
appointed as
an a
Additional
Director
in the capacity ofIndependent
Non-Executive
Director
Director,
witheffect
Non- from
March 30, 2022, subject to shareholders' approval.
Mr.Mathew
Job
is
not
Directors
of the Company.
Mr.Mathew Job is not
holding
related
debarred
the office of director
to
any
from
orderby SEBI orany
any
by virtue other
of such
authority.
Mr.Mathew
Job
holds
degree
in TechnologyElectronics)
a
Bachelor's
(Electrical and
and
MBA
from University from Indian
Institute
Management,
Calcutta. Priorof Kerala
Crompton
Greaves
Consumer
to joining Electricals
Ltd, he served as the Managing Director
of Racold
(Ariston) ThermoSeptember 2015.
the Director fromPrior to that, he was
Vice
President
and Managing
of Grahe India Private
November
and
2009 to
Philips
alsoheld various key roles Electronics India Limited
June 1994 to October 2009.
Mr. Mathew Crompton
LimitedJanuaryLimited 2012
Job has been working
as
Chief Executiveof
till
with from
with
since Director
January
2016 and
as
Officer Executive
since January
2021.
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Butterfly Gandhimathi Appliances Ltd. published this content on 30 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2022 14:32:09 UTC.