Hindustan Composites Completes ₹370 Crore Friction Sale, MD Steps Down

Hindustan Composites completed the transfer of its Friction Business Undertaking to Rane (Madras) effective 20 August 2026. MD Pawan Kumar Choudhary resigned as MD and KMP to transfer to RML, remaining a non-executive director; four senior managers also transferred. Context: completes the planned manufacturing exit.