The board of Bajaj Steel Industries Ltd. in its meeting held on 01 November 2012 has accepted Hargovind Bajaj's request to relieve him and also accepted his resignation from the chairmanship & directorship of the company with effect from 01 November 2012. In gratitude and acknowledgement of immense contribution made by him and to ensure that the company continues to benefit from his wisdom and guidance, the board has appointed Hargovind Bajaj as 'chairman emeritus' of the company.