Bbrother Shailendra Singh steps down as Joint MD but will continue as a passive shareholder in Percept. He will also no longer be a part of the Board of Directors
BestMediaInfo Bureau | Mumbai | March 23, 2017
Shailendra Singh has stepped down as Joint Managing Director at Percept Group. His elder brother Harindra Singh will now exclusively manage operations of the organisation.
Shailendra, who joined the organisation shortly after it was founded in 1984 by Harindra, will no longer be involved in the management of Percept Group. He will also no longer be a part of the Board of Directors which comprises five other individuals including chairman Harindra Singh; Ajay Upadhyay, COO, and three Directors â Ajay Chandwani, RK Chaturvedi and Rubeen Malkani. Shailendra, however, will continue as a passive shareholder in Percept.
In an e-mail statement, Harindra said, âBy 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 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.â
The announcement puts an end to a three-decade-old partnership between the brothers which saw the entertainment, media and communications company go from strength to strength. Today Percept Limited has 42 offices in India and the Middle East and its billings are pegged at Rs 17.26 billion as of last year.
Shailendra is believed to be the brains behind Sunburn which is now amongst worldâs biggest dance music festivals.
Percept operates in two core business domains. Creative, media and other marcom services are provided by their marketing and communication services arm called Percept One. Filmed content and live entertainment content come under the umbrella of Content and Intellectual Properties.