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In the latest succession planning at India’s largest promoter-backed companies, HCLTech promoter Shiv Nadar, on Thursday, transferred 47% of his shareholding each in two promoter entities including Vama Sundari Investments and HCL Corporation to his daughter Roshni Nadar Malhotra as a gift deed, as per a late evening regulatory disclosure on Friday.
This makes Malhotra the majority shareholder with at 57.33% ownership along with increase in voting rights, while Shiv Nadar’s stake will reduce to 4% in the promoter entities.
Both these promoter…
