DCM Shriram Industries senior MD Tilak Dhar passes away

NEW DELHI: DCM Shriram Industries senior managing director and promoter Tilak Dhar has passed away, the company stated in a stock exchange filing. Dhar who was 63 years old had been at the helm of the company for over three decades.
A great grandson of DCM group founder Lala Shriram, Dhar completed his graduation from Delh's Shriram College of Commerce and his MBA from the International Management Institute in Geneva before joining the company in 1980.

His brothers Alok Shriram and Madhav Shriram also occupy key board positions in the company.

The board of directors will convene to appoint a successor in due course, as per details provided in the stock exchange filing.

DCM Shriram Industries is engaged in the production of sugar and rayons as well as certain chemicals for industrial uses.

Dhar is credited with guiding the company through trying times for the sugar industry which has seen extreme volatility in prices and has suffered losses in the past decade.

He also played a key role in warding off a hostile takeover attempt of the company by Delhi-based HB Stockholding more than a decade ago.