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Indian shares fell sharply on Thursday, as risk aversion gripped markets amid bets for further policy tightening by the U.S. Federal Reserve and concerns over China's beleaguered property market.
Asian Paints co-founder Ashwin Dani passed away on Thursday
Ashwin Suryakant Dani, Co-founder and Non-Executive Director of Asian Paints, has passed away at the age of 81. He was a prominent Indian businessman and played a key role in the growth of Asian Paints, the largest paint company in India. Dani served as the Vice Chairman and Managing Director of the company from 1998 to 2009 and continued as a Non-Executive Director and Vice Chairman of the board thereafter.
Dani’s contribution was instrumental to Asian Paints’ growth as the largest paint maker in the country with a group turnover of Rs 21,700 crore.
In 1968, Dani began working for the business, which had a market value of Rs 3,00,000 crore as of September 28. From 1997 to 2009, he served as vice-chairman and managing director. Afterward, he was appointed non-executive chairman, a position from which Dani exited in 2021.