NEW DELHI :  Indiabulls Group said the company’s promoters have agreed to restructure various business segments of the group and their inter se responsibilities, among themselves “so that each of these business segments receives their focused and undivided attention”.

 Sameer Gehlaut will continue to control, manage and supervise the businesses of housing finance, real estate, securities and wholesale trading business segments of the group, after the resignation of Rajiv Rattan and Saurabh Mittal as directors of Indiabulls Housing Finance Ltd and Indiabulls Real Estate Ltd, respectively.

Further, Gehlaut has

relinquished office as chairman and as director of Indiabulls Power Ltd and Indiabulls Infrastructure and Power Ltd and handed the baton to Rajiv Rattan.

In a notice to the stock exchanges, the group also said “Mr Rajiv Rattan and Mr Saurabh Mittal shall not have any rights and/or interests in “Indiabulls” brand.

The existing names of both Indiabulls Power Ltd and Indiabulls Infrastructure and Power Ltd shall be changed by Mr Rajiv Rattan and Mr Saurabh Mittal on or before Dec 31…” The new names of the two companies will not have any reference of “Indiabulls”, the notice added.     -Cogencis

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