The re-appointment will come in effect from April 1, 2025 for a period of one year subject to approval of shareholders. Banerjee’s stint in the auto industry is for more than three decades in which he has worked in CEAT, Marico and Berger Paints.
He was also elected as the new Chairman of the Automotive Tyre Manufacturers' Association (ATMA), the principal industry body representing the automotive tyre sector in India in the month of April.
He has been a part of CEAT since 2005 starting as VP Sales and Marketing, and has been the Chief Operating Officer at CEAT since 2018 prior to taking over his current role.
As per the company’s exchange filings, “CEAT shall provide 26% of the Contribution amount aggregating to INR 45,00,000, in one or more tranches as per electricity act/MERC/CERC captive power regulation to become sole captive member consumer of generating company to fulfill captive compliance.”
The completion of this investment is expected to be done by September, 2024. The exchange filing also stated that Cleanwin Energy Five LLP ("Cleanwin") is a special purpose vehicle that will engage in the business of producing renewable energy from conventional and non-conventional sources of energy and supplying such power to the firm on a captive basis.
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