Rank #818
Kailashchandra Nuwal
Net worth $5.2B
Industrial explosives · India
- Born
- Jul 06, 1957
- Age
- 68
- Source
- Industrial explosives
- Residence
- Nagpur
- Citizenship
- India
- Marital status
- Married
- Children
- 2
- Education
Net worth over time
Biography
- 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.
Financial assets
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