Kailashchandra Nuwal
$3.6B
Born
Jul 06, 1957
Age
68
Source of Wealth
Industrial explosives
Residence
Nagpur,
Citizenship
India
Marital Status
Married
Children
2
Education
- Kailashchandra Nuwal draws his wealth from shares in Solar Industries, a maker of industrial explosives, founded by his brother Satyanarayana Nuwal.
- Solar Industries gets the biggest chunk of its annual revenue from exports, followed by the defense sector, state-owned coal companies and the housing and infrastructure segments.
- Until 2019 he was vice chairman and a director in the company but had to step down for failing to disclose his stake in a private company.
- Kailashchandra approached the National Company Law Tribunal for reinstatement. The company is now contesting it in the Supreme Court where the case is still pending.
- The fight between the brothers came to a head in 2023 when Kailashchandra Nuwal voted against four resolutions including altering the articles of association at the company's annual general meeting.
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