Deepak Chhabria steps down as Finolex Cables chairman

Deepak Chhabria has been removed from the board of Finolex Cables, following a longstanding dispute with his cousin, Prakash Chhabria. This comes after the Supreme Court reprimanded the National Company Law Appellate Tribunal for allowing Deepak to continue in his role. The fight for control of Finolex Cables is expected to intensify, with Prakash intending to stake claim to the position. Shares of Finolex Cables rose 1.47% on Friday.

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