Corporate Governance

Ajay Piramal — Ajay Piramal

Chairman and Executive Director

Dr. Swati A. Piramal — Dr. Swati A. Piramal

Vice Chairperson and Executive Director

Anand Piramal — Anand Piramal

Executive Director, Piramal Group

Nandini Piramal — Nandini Piramal

Non-Executive Director, Piramal Enterprises Ltd.

S Ramadorai — S Ramadorai

Independent Director

Vijay Shah — Vijay Shah

Non-Executive Director

Kunal Bahl — Kunal Bahl

Independent Director

Suhail Nathani — Suhail Nathani

Independent Director

Anjali Bansal — Anjali Bansal

Independent Director

Puneet Dalmia — Puneet Dalmia

Independent Director

Anita George — Anita George

Independent Director

Shikha Sharma — Shikha Sharma

Non-Executive Director

Rajiv Mehrishi — Rajiv Mehrishi

Independent Director

Gautam Doshi — Gautam Doshi

Independent Director

Statutory Committees of the Board

Sr. No.	Committee	Chairman / Members
1	Audit Committee	Mr. Rajiv Mehrishi – Independent Director, Chairman Mr. Gautam Doshi – Independent Director, Member Mr. Puneet Dalmia – Independent Director, Member
2	Nomination & Remuneration Committee	Mr. Suhail Nathani – Independent Director, Chairman Mr. Ajay G. Piramal – Whole-Time Director, Member Ms. Anjali Bansal – Independent Director, Member Mr. Kunal Bahl– Independent Director, Member
3	Stakeholders Relationship Committee	Mr. Suhail Nathani– Independent Director, Chairman Ms. Nandini Piramal – Non-Executive Director, Member Mr. Vijay Shah – Non-Executive Director, Member
4	Corporate Social Responsibility	Mrs. Shikha Sharma – Non-Executive Director, Chairperson Dr. (Mrs.) Swati A. Piramal – Whole-Time Director, Member Ms. Nandini Piramal – Non-Executive Director, Member Mr. Puneet Dalmia – Independent Director, Member Mr. Suhail Nathani– Independent Director, Member
5	Risk Management Committee	Mrs. Shikha Sharma – Non-Executive Director , Chairperson Ms. Anita George – Independent Director, Member Mr. Gautam Doshi – Independent Director, Member

AML KYC policy – 29th January 2024

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Fair Practice Code – 29th January 2024 ( English)

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Compliance policy – 9th Nov 2023

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PEL – Wholesale RE Penal Charges Policy

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PEL – CMML Penal Charges Policy

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PEL – ESG Policy

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PEL Remuneration Policy

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PEL Fair Practices Code (Hindi)

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PEL Fair Practices Code (Marathi)

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Internal Guidelines on Corporate Governance

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Policy on Appointment of Statutory Auditors

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Grievance Redressal Mechanism

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Ombudsman Scheme Salient Features 2021

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PEL Fair Practices Code

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Ombudsman NBFC Scheme

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List of KYC Documents

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PEL KYC & AML Policy Brief

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PEL Whistle Blower Policy

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PEL Nomination Policy

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Familiarisation programme for Independent Directors 23-24

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Framework of Familiarization Program

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PEL Dividend Distribution Policy

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PEL Archival Policy

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Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information

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PEL Policy on Related Party Transaction

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PEL Code of Conduct for Board Members

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PEL Code of Conduct for Senior Management

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PEL-Policy for Material Subsidiaries

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Independent Directors - Terms and Conditions Of Appointment

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Environment, Health & Safety Policy

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Sustainable Development Policy

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LRM Disclosure of PEL for March 2024

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LCR Disclosure of PEL for March 2024

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LRM Disclosure of PEL for December 2023

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LCR Disclosure of PEL for December 2023

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LCR Disclosure of PEL for September 2023

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LRM Disclosure of PEL for September 2023

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LCR Disclosure of PEL for June 2023

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LRM Disclosure of PEL for June 2023

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LCR Disclosure of PEL for March 2023

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LRM Disclosure of PEL for March 2023

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LCR Disclosure of PEL for December 2022

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LCR Disclosure of PEL for September 2022

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Asset Classification

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Interest Rate and Risk Gradation

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LRM Disclosure of PEL for December 2022

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LRM Disclosure of PEL for September 2022

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Ajay Piramal

Ajay Piramal

Chairman

Mr. Ajay Piramal is one of India’s leading industrialists and philanthropists, and Chairman of the Piramal Group. Piramal Group is a global business conglomerate with diverse interests in pharmaceuticals, financial services and real estate, with offices in 30 countries and its products sold in more than 100 markets. The Group has a strong track record of robust sustained partnerships with several marquee global investors and partners.

Mr. Piramal is regarded as a torchbearer for responsible entrepreneurship, with a strong focus on ‘Doing Well and Doing Good’, a philosophy that has created long-term value for the Group’s stakeholders and the community as a whole.

A firm believer in the tenets of the Bhagvad Gita, Mr. Piramal is a passionate advocate of trusteeship and responsible business ethos. He is deeply invested in unblocking India’s socio-economic potential through the Piramal Foundation, and is an ardent promoter of social entrepreneurship. Mr. Piramal actively steers the Group’s involvement in various social impact initiatives through the Piramal Foundation, to develop innovative long term and scalable solutions to resolve issues that are critical roadblocks towards unlocking India’s economic potential. The Foundation currently works across 25 states and has impacted over 112 million lives, mostly in partnership with state governments, through Piramal Swasthya, Piramal Sarvajal and Piramal School of Leadership. Piramal Foundation has partnered with NITI Aayog, India’s foremost think-tank, in 25 Aspirational Districts across 7 states in India, to improve human development indicators across Healthcare & Nutrition and Education, amongst marginalised sections of society.

Mr. Piramal holds key positions on the Boards of several companies and prestigious institutions. He serves on the Harvard Business School’s Board of Dean’s Advisors, is co-Chair of the UK-India CEO Forum and Non-Executive Director of Tata Sons Ltd. Passionate about contributing to education in India, Mr. Piramal also serves as President and Chairman of Anant National University and Chairman of the Pratham Education Foundation.

He has been conferred with several national and international recognitions including: Honorary Commander of the Order of the British Empire (CBE) by Her Majesty The Queen (2022); ‘Deal Maker Hall Of Fame’ Award at the Mint India Investment Summit (2022); Outstanding Performance at the 9th Asia Pacific Entrepreneurship Awards (2018); International Advertising Association’s (IAA) Business Leader of the Year Award (2018); Asia Pacific Entrepreneurship Awards (APEA) – ‘Special Achievement Award’ Category'(2018); CNBC India Business Leader of the Year (2018) and CNBC Asia Business Leader Award (2017) for his visionary leadership; Hurun India Philanthropy List (2017); SEN Sustainability Award – Philanthropy and Best of Best – instituted by World Presidents’ Organisation (2015); Corporate Citizen of the Year award by AIMA Managing India Awards (2016); ‘Outstanding Philanthropist’ (2014 and 2013) by Forbes Philanthropy Awards; ‘Business Leader of the Year’ by the Indo-American Chamber of Commerce; and ‘Entrepreneur of the Year’ (2006) by the UK Trade and Investment Council.

Mr. Piramal holds an Honours degree in Science from Mumbai University and a Master’s degree in Management Studies from the Jamnalal Bajaj Institute of Management Studies. He has completed an Advanced Management Programme from the Harvard Business School, and has been conferred with an Honorary Doctorate in Philosophy (D. Phil) by Amity University, India, and an Honorary Doctor of Science (Honoris Causa) Degree by IIT-Indore.

Dr. Swati A. Piramal

Dr. Swati A. Piramal

Vice Chairperson

Dr. Swati Piramal is the Vice-Chairperson of Piramal Group, a global business conglomerate with diverse interests in pharmaceuticals, financial services and real estate. Piramal Group has offices in 30 countries, brand presence in over 100 markets across the world, and over 10,000 employees from 21 diverse nationalities. With a turnover of US$ 2 Billion in FY2020, the Group steadfastly pursues inclusive growth, while adhering to ethical and value driven practices.

Based on the philosophy of ‘Doing Well and Doing Good’, the Piramal Group continues to create long-term value for its stakeholders and the community at large.
Dr. Piramal is amongst India’s leading scientists and industrialists whose contributions to innovations, new medicines and public health services have touched many lives. In 2012, Dr. Piramal was awarded with the Padma Shri, one of the highest civilian honours of India, by the President of India.

Over the past 3 decades, Dr. Piramal’s efforts towards providing cost-effective and science-based healthcare globally, have significantly contributed in shaping the Indian pharmaceutical industry and to emerge as one of the largest producers of drugs in the world. She founded the Gopikrishna Piramal Memorial Hospital in Mumbai and was instrumental in launching several pan-India public health campaigns against chronic diseases, osteoporosis, malaria, diabetes, tuberculosis, epilepsy and child immunization. Dr. Piramal has authored several books on nutrition and health, including one for patients with renal disease and related disorders, and has written public policy papers on topics such as patent protection, intellectual property and data protection. Her strong influence on important public policies and governance on healthcare and related issues, is widely recognized and has led to major policy changes that have helped reduce the burden of disease.

As the Director of Piramal Foundation, the philanthropic arm of Piramal Group, Dr. Piramal is deeply involved in developing innovative long-term and scalable solutions to resolve issues that are critical roadblocks towards unlocking India’s economic potential. She spearheads the efforts of the Foundation towards effective public policy and governance that enables successful private-public-partnerships (PPP models) to effectively solve problems and help meet India’s SGD Goals. Dr. Piramal has played a significant role in establishing avenues that promote primary healthcare in rural India, developing frameworks for women empowerment and enabling systemic transformation of India’s public education system by realizing the potential of young leaders of tomorrow, and promoting sustainable models for facilitating access to safe drinking water. Under the leadership of Dr. Piramal, the initiatives of Piramal Foundation work cohesively with the central and state governments, as well as through collaborations with NITI Aayog, The Rockefeller Foundation and The Bill and Melinda Gates Foundation, amongst several others.

Through various capacities, Dr. Piramal has championed the cause of women leadership, and develops frameworks and policies to support women in leadership roles. She has served as the First Woman President of India’s Apex Chamber of Commerce (ASSOCHAM), in 90 years. Dr. Piramal, through her knowledge and experience, serves as a role model for several aspiring women, empowering them to bring in change at the highest levels of government and society.

Dr. Piramal is a Director on the Board of Nestle India, Allergan India and EssilorLuxottica; and is a Board Member of Dean’s Advisors to the Harvard Business School and the Harvard School of Public Health. She has been a Former Non-Executive Director on the Board of ICICI Bank, a Former Director on the Boards of SBI Capital Markets and Prudential ICICI Asset Management Company, and a Former Board Member on the Board of Life Insurance Corporation of India. Dr. Piramal has also served on various advisory council boards of industry, trade, science and research, art and technology, as well as on the boards of Indian and international academic institutions that include IIT Bombay, Xavier’s College Mumbai, University of Pennsylvania, IITB-Monash, Harvard School of Public Health and the Harvard Business School. In addition, she has served on the Prime Minister of India’s Trade Advisory Council and Scientific Advisory Council.

Dr. Piramal is a recipient of several prestigious awards and recognitions including ‘Business Leader of the Year’ Award by Hello Hall of Fame Awards (2019); First Ladies Awards by the President of India (2018); ‘Woman of the Year’ Award for outstanding contributions to society in the Medical field by IMC Ladies’ Wing (2016); LinkedIn Power Profile list for most viewed CEOs on LinkedIn, India (2015); Kelvinator Stree Shakti Women Achievers Award by Colors (2014); Padma Shri, amongst the Highest Civilian Honours presented by the President of India (2012); Elected as the member of the Harvard Board of Overseers (2012); Alumni Merit Award – the Highest Award bestowed upon a Harvard Alumni by Harvard T.H. Chan School of Public Health (2012); nominated to the Hall of Fame – Most Powerful Women in Business by Fortune India (2011); Awarded by President of India for contributions to better Corporate Governance (2011); Global Empowerment Award – UK by Her Royal Highness, the Duchess of Kent (2011); Nominated 8 times in succession as one of the 25 Most Powerful Women in India by Business Today (2011-2003); Distinguished Industrialist Award for outstanding contributions to the Pharmaceutical Industry by Vellore Institute of Technology (2010); Rajiv Gandhi Award for Outstanding Woman Achiever by Rajiv Gandhi Foundation (2007); Awarded by Prime Minister of India for contributions in the field of Science and Technology (2006); ‘Chevalier de l’Ordre National du Merite’ (Knight of the Order of Merit) one of France’s Highest Honours for Medicine and Trade (2006); Chemtech Pharma Award for Biotech Industries (2006); Lucknow National Leadership Award by Lakshmipat Singhania-IIM, Lucknow (2006); Management Women Achiever of the Year Award by Bombay Management Association (2004-5).

Dr. Swati Piramal holds a Master’s Degree in Public Health from the Harvard Business School, in addition to a Medical Degree (M.B.B.S) and a Bachelor’s Degree in Medicine and Surgery from University of Mumbai, India.

Rajiv Mehrishi

Rajiv Mehrishi

Independent Director

Mr. Rajiv Mehrishi is a retired Indian Administrative Service (IAS) officer of the 1978 batch belonging to the Rajasthan Cadre.

Mr. Mehrishi has served in various key posts in both Union and Rajasthan Government. During his stint as Joint Secretary, Department of Company Affairs, he was involved in the enactment of the Competition Act, and re-writing the Companies Act, 1956 which gave him an insight into the functioning of companies and Companies law. He also re-wrote the transport taxation laws and the rules for the Narcotics and Psychotropic Substances Act, 1984, which became a template for all other states in the country. He was pivotally involved in the important reforms of setting up the Monetary Policy Committee (MPC), and enactment of the Indian Bankruptcy Code (IBC) and the Competition Act.

During his tenure as the Principal Secretary Finance, and the Chief Secretary in Rajasthan, he gathered good understanding about functioning of the State Government, Centre-State relations, and of fiscal federalism which was accentuated by his experience as the Union Finance Secretary. As Principal Secretary Finance in Rajasthan he played a central role in conceptualising and introducing the biometric and bank-linked “Bhamashah” card, even before the Aadhar card scheme was announced by the Government of India in 2009.

Thereafter, he held the position of Union Home Secretary in the Central Government. Later, as the 13th Comptroller and Auditor General of India (C&AG), he had the experience of auditing various transactions of both State and Central Government across all Departments and Ministries.

In 2022, Mr. Mehrishi was awarded with the Padma Bhushan, one of the highest civilian honors of India, by the President of India.

He has a wide experience of over 42 years and is well placed to advise and guide the Company in the discharge of its functions, including good corporate governance and shareholder protection, especially the small shareholders.

Mr. Mehrishi holds a degree in B.A (History Hons.), M.A. (History) from St. Stephen’s College, Delhi, and a Master of Business Administration from the University of Strathclyde, Glasgow, Scotland.

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