Pursuant to the provisions of Regulation 17 (read with Schedule II) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended (SEBI Listing Regulations) the Board of Directors of Bajaj Electricals Limited (Company) at its Meeting held today i.e. on Thursday March 25 2021 has considered and approved rolling out of a VRS for the 281 permanent employees in the workmen and staff category currently working at the Companys Facility.
The financial impact of the VRS shall be ascertained and communicated in the due course of time.
The Company believes that the implementation of VRS will provide the much-needed flexibility in terms of reduced fixed overheads and deployment of productivity improvement plans.
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