Kovilpatti Lakshmi Roller Flour Mills Limited, one of the pioneers of post-independence industrialisation in India, informed the exchanges regarding the change in key personnel. The company, in a regulatory filing, informed that the Board of Directors has elected Suresh Jagannathan, who was already the Managing Director (Promoter), as the Chairman of the Company.
It added that Jagannathan is not debarred from holding the office of Director by virtue of any order of the SEBI.
Suresh Jagannathan, aged 63 years, has completed his Bachelor of Science from Rensselaer, Polytechnic Institute, New York, USA. He is having wide knowledge and over 39 years of experience in food, textiles and engineering industries. He is one of the Promoters of the Company and he is currently heading the entire business activities of the Company as Chairman and Managing Director.
Sudarsan Varadaraj resigned as Non-Executive Non-Independent Director of the Company with effect from 18th November, 2020 for the purpose of his appointment as an Independent Director of the Company.
Sudarsan Varadaraj has done his B.E. in Mechanical Engineering and his Master's degree in Mechanical Engineering in Stanford University. He has 38 years of experience in the field of machine building, rubber and allied industry.
Kovilpatti Lakshmi was trading at Rs38.10 per piece down by Rs0.6 or 1.55% from its previous closing of Rs38.70 on the BSE, at 3.13pm