Stock Report

John Cockerill India Limited appoints additional director

Posted On : 2022-03-18 20:36:47( TIMEZONE : IST )

John Cockerill India Limited appoints additional director

Based on the recommendation of members of the Nomination and Remuneration Committee, the Board of Directors of John Cockerill India Limited at its meeting held on March 18, 2022 have approved the appointment of Mr. Praveen Kadle (DIN : 00016814) as an Additional Director (Non-Executive and Independent) on the Board of the Company, subject to the approval of the members of the Company through Postal Ballot, for a term of 5 (five) consecutive years to be effective from April 1, 2022.

Mr. Praveen Kadle will be a Non-Executive Independent Director and he is not related to the Promoter or Promoter Group and fulfils the criteria of independence as required under the provisions of the Companies Act, 2013 and the Rules framed thereunder and the SEBI Regulations. We confirm that Mr. Praveen Kadle is not debarred from appointment as a Director by any Order of SEBI or other authorities.

The Board has granted approval for conducting Postal Ballot for appointment of Mr. Praveen Kadle as an Independent Director of the Company and has approved the draft Notice and Explanatory Statement, in this respect.

Mr. Praveen Kadle, aged 65 years, is the Founder & Chairman of Prachetas Capital Private Limited. Prior to that, Mr. Kadle had been part of the Tata Group for more than 30 years and held senior positions like Founding CEO and a Board Member of IBM's JV with Tatas in India from 1991 to 1996, CFO and a Board Member of Tata Motors from 1996 to 2008, Founder Managing Director and CEO of Tata Capital from 2008 to 2018 and Chairman of Tata AutoComp System from 2018 to 2021 which position he still holds in a non-executive position with effect from April, 2021. He is also on the Board of few other Tata Companies in a non-executive position and is also on the Board of various non-Tata Companies. During his stint in Tata Motors, he led the teams that acquired Daewoo Truck Company in South Korea in 2004 and Jaguar LandRover in 2008. In 2004, as a CFO & Finance Director, he was instrumental in getting Tata Motors listed on New York Stock Exchange and had played a major role in the turnaround and growth of the Company. During his ten years in Tata Capital, he had successfully floated 5 PE funds and set up a very successful Private Equity business of US$ 1 billion which had delivered a very attractive IRR in US dollar terms for the international and domestic investors.

Mr. Kadle has received a number of awards in recognition of his outstanding contribution to Tata Motors Limited, which are : CNBC-TV18, the Country's best performing CFO in the Auto & Auto Ancillaries sector for 2006; 'The Best CFO of the year 2005' in India by Business Today; The 'CFO of the year 2004' by IMA (formerly known as Economist Intelligence Unit) and has been inducted as Founding member to the CFO Hall of Fame in India. Mr. Kadle has received the Global Indian Business Leader of the year award from Horasis, an international think tank in the year 2015. He is a Hons. Graduate in Commerce & Accountancy from Mumbai University and has qualified as a Chartered Accountant, Cost & Management Accountant and Company Secretary.

Shares of John Cockerill India Ltd was last trading in BSE at Rs. 1605.55 as compared to the previous close of Rs. 1580.20. The total number of shares traded during the day was 2546 in over 150 trades.

The stock hit an intraday high of Rs. 1665.00 and intraday low of 1570.00. The net turnover during the day was Rs. 4101070.00.

Source : Equity Bulls


JohnCockerillIndia INE515A01019 Appointment AdditionalDirector