Remsons Industries announced the cessation of its Whole Time Director, Rahul Kejriwal, due to his demise on October 6, 2026. The company filed this intimation with stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The filing confirmed that Kejriwal passed away after a brief illness. The Board of Directors and management extended their deepest condolences to the bereaved family during this difficult period.

Disclosure details

The company provided specific details regarding the change in directorship as required by regulatory norms.

This disclosure was submitted to both BSE Limited and National Stock Exchange of India Limited for their records.

Remsons Industries Limited has approved the sale of its investment and exit from the joint venture arrangement in Aircom Remsons Automotive Private Limited (ARAPL). The Board of Directors took this decision during a meeting held on October 1, 2026, marking the termination of the existing partnership with Aircom Group AG or its subsidiary.

The transaction involves the sale of 52,000 equity shares, representing a 26% stake in ARAPL. These shares, having a face value of ₹10 each, will be sold to Aircom Group India Private Limited for a cash consideration of ₹5,20,000. The buyer does not belong to the promoter or promoter group of Remsons Industries, and the transaction is not classified as a related party transaction.

Transaction Details and Timeline

The agreement for the sale was entered into on October 1, 2026. The company expects the completion of the disposal by October 31, 2026, subject to the fulfilment of conditions precedent and other closing requirements specified in the Share Purchase and Exit Agreement.

Financial Impact

According to the disclosure filed with stock exchanges, the joint venture contributed minimally to the listed entity's financials in the last financial year. The turnover contribution from ARAPL was recorded at zero, while the net worth contribution stood at negative ₹2.52 lakh. Consequently, the company stated that the transaction is not expected to have any adverse impact on its operations.

What the Numbers Show

The financial data reveals that the joint venture was essentially non-operational for the reporting period, contributing ₹0 to turnover. The negative net worth contribution of -₹2.52 lakh indicates that the venture held liabilities exceeding assets within the consolidated framework or equity accounting method used. Exiting this arrangement removes a minor balance sheet liability without affecting revenue streams, given the zero turnover contribution.