Hamendra is Kamdar’s executive chairman

PETALING JAYA: Kamdar Group (M) Bhd's deputy chairman, Hamendra BM Kamdar has been redesignated as the group's executive chairman effective April 23, 2014.
His appointment comes just over a week after the company appointed a special auditor to help in its investigation over an alleged withdrawal of RM8.7 million from its main subsidiary – Kamdar Sdn Bhd.
Hamendra, one of the brothers in the Kamdar family, is currently responsible for the export and wholesale operations of the group, as well as distribution of merchandise within the textile group.
Hamendra, aged 62, holds 3.63 million shares in Kamdar directly and indirectly, another 1.87 million shares, via his wife's shareholding in the retail group.
Kamdar shareholders voted out its major shareholder and former executive chairman Bipinchandra Balvantrai at an AGM in June 2013, following months of dispute among the family controlling the retail group.