Harindra Singh, chairman and MD, Percept Group has assumed full control of the company. Shailendra Singh, who was joint MD, has moved out of the management team of the company and will continue as a passive shareholder.
In a statement, Harindra Singh said, "By the grace of God and with the assistance of family elders and members, Shailendra and I have executed a family settlement and arrangement in relation to the business of the Percept Group Companies and the properties. While Shailendra will continue as a passive shareholder in Percept, he will not be involved in the management of the Percept Group and I will hereafter exclusively manage the operations of the Percept Group. We wish Shailendra all the success in his new endeavours."