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Singhania as chairman & Kataria as MD get nod from Raymond Lifestyle shareholders
MUMBAI: In the evening hours of 4 December Raymond Lifestyle – part of the Raymond group– informed the Bombay stock exchange that it had received the required majority from shareholders for the company’s special resolutions placed before them at its AGM.
Amongst the most important was the appointment of Gautam Hari Singhania as executive chairman. In the SEBI regulatory filing by the company, it was revealed that 86.85 percent of the 4,17,57,480 votes cast were in favor of the resolution for Singhania’s appointment, while 13.15 percent were against it. Special resolutions, according to corporate rules, require 75 per cent or more favourable shareholder votes for them to be deemed to have been approved.
The shareholders also approved the appointment of CEO Sunil Kataria as its managing director (MD). In Kataria’s case, 89.6631 per cent shareholders were in favor of his new appointment, while 10.3369 were against.
Another six special resolutions relating to the appointment of independent directors also sailed through, garnering the required majority from shareholders.
Media reports had expressed concern when some investor groups had lobbied Raymond Lifestyle shareholders to vote against the special resolutions.
Raymond Lifestyle had been listed on the stock exchanges on 5 September after demerging and being carved out from Raymond, with Singhania continuing to lead both the entities.
Later commenting on the development, a Raymond Lifestyle spokesperson said its shareholders have demonstrated full confidence and voted for Gautam Hari Singhania as chairman and Sunil Kataria as the managing director.
“This development has reinforced the fact that the promoter is fully committed towards the organisation’s growth and creating shareholder value,” he said.
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ITC Sunfeast Farmlite launches Sugar Free Cookies range
New variants offer guilt-free indulgence for health-conscious snackers.
MUMBAI: ITC Sunfeast Farmlite is sweetening the deal for biscuit lovers who want to have their cookie and eat it too without the sugar. The better-for-you biscuits range from ITC Foods has expanded its portfolio with the launch of an all-new Sugar Free Cookies line, aligning with the company’s vision of ‘Help India Eat Better’. The range is designed for consumers who are rethinking sugar in their daily snacking but refuse to compromise on taste and indulgence.
The collection debuts with two tempting variants: Choco Nut Cookies and Hazelnut & Oats Cookies. Both are a source of protein and contain no trans-fat, while the Hazelnut & Oats variant is also lactose-free.
ITC Ltd. vice president (marketing), biscuits, foods division, Suraj Kathuria said, “At Sunfeast Farmlite, we believe mindful snacking should never come at the cost of indulgence. With this launch, we are catering to the growing need for guilt-free snacking while delivering a rich, satisfying cookie experience.”
ITC Ltd. vice president & head of food sciences for foods division Dr Shantanu Das added, “We have applied robust food science to develop cookies that are sugar-free while preserving the taste and texture consumers love.”
Each cookie comes in convenient single-serve packs to maintain texture and freshness. Both variants are available in 100g packs priced at ₹100 and can be found on quick-commerce platforms including Blinkit, Swiggy Instamart, and Zepto.
In a market increasingly leaning towards healthier choices, ITC Sunfeast Farmlite’s new Sugar Free Cookies prove that cutting sugar doesn’t mean cutting joy. For the health-conscious yet indulgent snacker, this could be the perfect bite-sized solution.
