New Delhi, Domestic mobile phone maker Lava International has reconstituted the company's board by removing former Chairman and Managing Director Hariom Rai, according to a company statement.
Rai had resigned from his post in February and does not hold any directorship in the company. He is in judicial custody in an alleged money laundering case filed by the Enforcement Directorate.
Lava has inducted former BSNL Chairman and Managing Director Anupam Srivastava and former Lieutenant Governor of Andaman and Nicobar Islands and Puducherry Aj Kumar Singh as independent directors.
“We are pleased to introduce the board members who will drive the company’s vision and brand development. His rich industry experience, strategic insights and passion for Lava will be instrumental in achieving operational excellence and increasing its market share.
Sunil Raina, Executive Director, Lava International, said, “The newly formed board is an ideal blend of experienced Lava leadership members, founders and highly accomplished professionals with diverse backgrounds.”
The new board includes Raina, Sanjeev Aggarwal, Shailendra Nath Rai, Suni Bhalla, Vishal Sehgal besides two new independent directors.
According to sources, Hariom Rai personally holds 15.27 percent stake in the company.
According to the last disclosures made by the company in a regulatory filing in 2021, Rai held about 33 percent stake in the company, Bhalla held about 21 percent, Sehgal held about 16 percent, SN Rai held 8.68 percent and Raina held Was. 0.13 percent. Percentage share was.
Without disclosing actual details, sources however said that the shareholding structure of the board members has changed after 2021.
Rai had resigned from his post in February and does not hold any directorship in the company. He is in judicial custody in an alleged money laundering case filed by the Enforcement Directorate.
Lava has inducted former BSNL Chairman and Managing Director Anupam Srivastava and former Lieutenant Governor of Andaman and Nicobar Islands and Puducherry Aj Kumar Singh as independent directors.
“We are pleased to introduce the board members who will drive the company’s vision and brand development. His rich industry experience, strategic insights and passion for Lava will be instrumental in achieving operational excellence and increasing its market share.
Sunil Raina, Executive Director, Lava International, said, “The newly formed board is an ideal blend of experienced Lava leadership members, founders and highly accomplished professionals with diverse backgrounds.”
The new board includes Raina, Sanjeev Aggarwal, Shailendra Nath Rai, Suni Bhalla, Vishal Sehgal besides two new independent directors.
According to sources, Hariom Rai personally holds 15.27 percent stake in the company.
According to the last disclosures made by the company in a regulatory filing in 2021, Rai held about 33 percent stake in the company, Bhalla held about 21 percent, Sehgal held about 16 percent, SN Rai held 8.68 percent and Raina held Was. 0.13 percent. Percentage share was.
Without disclosing actual details, sources however said that the shareholding structure of the board members has changed after 2021.
