Raymond Ltd’s independent directors said on Friday that they will take measures to protect the interests of non-promoter minority shareholders, employees, and other stakeholders of the company.
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The statement from the independent directors, posted by the company in a stock exchange filing, comes amid the ongoing divorce settlement dispute between Raymond chairman and managing director Gautam Singhania and estranged wife Nawaz Modi, who is also a board member.
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“The independent directors, over the last few weeks, have been meeting and monitoring the situation so far as it affects the Company and the minority shareholders; and reiterate their commitment to protect, at all times, the interests of non-promoter minority shareholders, employees and other stakeholders,” the statement read.
