| | AUGUST 20248Sony Pictures Networks India (SPNI) has announced that Ritesh Khosla will be taking on the role of General Counsel, effective September 1. He will replace Ashok Nambissan, who is set to retire on August 31.Previously, Khosla served as Executive Vice President, Deputy General Counsel, and Head of Standards & Practices at SPNI. His legal journey began at a law firm before he joined SPNI, where he has steadily risen through the ranks. For the last six years, he has been a key figure as Deputy General Counsel.With more than 20 years of experience, Khosla brings a wealth of knowledge in areas such as mergers and acquisitions (M&A), joint ventures (JVs), regulatory frameworks, compliance, corporate governance, complex litigation, and intellectual property rights (IPR) protection and enforcement. His deep expertise has been crucial in shaping SPNI's legal approaches.In his new role, Khosla will be responsible for SPNI's corporate relations, legal and regulatory affairs, secretarial functions, and standards & practices. He will provide legal and risk guidance, manage the company's legal risks, and act as the company's ombudsperson. He will report directly to the Managing Director & CEO of Sony Pictures Networks India.In addition to his primary duties, Khosla aims to enhance SPNI's compliance framework, particularly in the areas of digital and intellectual property rights. He is also tasked with strengthening the company's legal infrastructure in international markets and overseeing SPNI's Corporate Social Responsibility (CSR) initiatives to ensure they meet legal and ethical standards.Commenting on his promotion, Khosla said, "I am deeply honored to be appointed as General Counsel at SPNI. My journey here has been incredibly rewarding, and I look forward to continuing to work with our talented team. This role presents a unique opportunity to build on the strong legal foundation established under Ashok Nambissan's leadership. I am dedicated to maintaining the highest standards of legal and ethical conduct and advancing SPNI's mission to deliver exceptional content and experiences to our audiences". Adani Enterprises Limited (AEL), the flagship firm of the Adani Group, has announced that its board has sanctioned the demerger of its food and fast-moving consumer goods (FMCG) divisions. These sectors will now merge into Adani Wilmar, a joint venture established between the Adani Group and Singapore-based Wilmar Group.The demerger will result in a decrease in the promoter's stake in Adani Wilmar, aligning with Securities and Exchange Board of India (Sebi) regulations. Presently, AEL holds a 43.94 percent stake in Adani Wilmar through Adani Commodities, which will be transferred to current public shareholders of Adani Wilmar. Under the arrangement, AEL shareholders will receive 251 shares of Adani Wilmar for every 500 shares they hold. The record date for this transaction is yet to be disclosed.This move is part of AEL's strategy to incubate and subsequently demerge businesses once they become self-sufficient and well-established. AEL has previously demerged businesses such as Adani Green Energy and Adani Energy Solutions (formerly Adani Transmission).Post-demerger, the promoter's stake in Adani Wilmar will drop from 87.87% to 76.76%, while public shareholding will increase from 12.13% to 23.24%. Sebi guidelines require large companies to have at least 25% of their shares available to the public within three years of listing. Adani Wilmar, listed in February 2022, has until February next year to meet this requirement.Additionally, Adani Wilmar will no longer be a joint venture of the Adani Group following the demerger. The food and FMCG sectors of Adani Enterprises are anticipated to attract a different group of investors, strategic partners, lenders, and other stakeholders. The demerger aims to enhance the focus on the operation of the food and FMCG businesses and restructure these divisions into Adani Wilmar.Adani Enterprises emphasized that the demerger would unlock direct value for its shareholders and create opportunities for independent growth and collaboration. SONY PICTURES NETWORKS INDIA PROMOTES RITESH KHOSLA TO GENERAL COUNSELADANI ENTERPRISES APPROVES DEMERGER OF FOOD & FMCG DIVISIONSIN FOCUSIN FOCUS
< Page 7 | Page 9 >