Late Gautam Kulkarni's family makes exit from Kirloskar Group

10 Feb 2022 , 10:42 AM

Kirloskar Group informed the exchanges Wednesday that Late Gautam Kulkarni’s family which includes his wife Jyotsna Kulkarni, his sons Nihal Kulkarni and Ambar Kulkarni (including their respective family branches) have decided to exit from the Kirloskar group companies to pursue their respective independent ambitions and interests, which are different and independent of the Kirloskar group businesses.

Nihal Kulkarni has also resigned from the Board of Directors of Kirloskar Oil Engines Limited, Kirloskar Industries Limited, Kirloskar Americas, Navasasyam Dandekar Private Limited and G.G. Dandekar Machine Works Limited with effect from February 9, 2022.

Consequently, Jyotsna Kulkarni and her family members have indicated that they shall, in due course cease to be shareholders and promoters in the Kirloskar group companies.

The Kirloskar group companies are in the process of making necessary filings with the appropriate authorities and the modalities of separation will mutually be worked out amongst us keeping in mind the applicable laws, as per filing.

“We recognize the invaluable contributions made by Gautam and his family and appreciate that individual aspirations of family members could change over time. We wholeheartedly support this personal decision of Gautam’s family. Our family ties remain unaffected and we continue to support and stand by each other,” company said in a regulatory filing.