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.

Other Directorships / Full time positions in body corporates

Dr. Swati Piramal

Vice Chairperson - Piramal Group

Dr. Swati Piramal is the Vice-Chairperson of Piramal Group, a global conglomerate with interests in pharmaceuticals, financial services, and real estate. One of India’s most respected scientists and industrialists, Dr. Piramal has significantly contributed to innovations in healthcare, public policy, and socioeconomic development.

Over the past three decades, she has played a pivotal role in shaping the Indian pharmaceutical industry by championing cost-effective, science-based healthcare solutions. She founded the Gopikrishna Piramal Memorial Hospital and led national health campaigns, while contributing to drug development, public health policy, and regulatory affairs. Her work has driven major healthcare reforms through impactful writings on intellectual property, patents, and data protection.

As Director of Piramal Foundation, the philanthropic arm of Piramal Group, Dr. Swati Piramal drives innovative, long-term solutions to address key development challenges in India, focusing on rural healthcare, women’s empowerment, education reform, and sustainable access to safe drinking water. Under her leadership, the Foundation collaborates with governments and global partners like NITI Aayog, The Rockefeller Foundation, and the Bill & Melinda Gates Foundation to build scalable public-private partnerships aligned with the UN Sustainable Development Goals.

Dr. Piramal has received numerous prestigious accolades and recognitions for her contributions to business, science, healthcare, and public service, including the Padma Shri in 2012, Chevalier de l’Ordre National du Mérite (Knight of the Order of Merit) in 2006, and Chevalier de la Légion d’Honneur (Knight of the Legion of Honour) in 2022. In 2023, she was inducted into the Business Today Hall of Fame. She was named one of Business Today’s 25 Most Powerful Women in India for eight consecutive years (2003–2011). She was honoured with the ‘Business Leader of the Year’ Award by Hello Hall of Fame (2019), the First Ladies Award by the President of India (2018), and the ‘Woman of the Year’ Award by the IMC Ladies’ Wing (2016). In 2011, she was inducted into Fortune India’s Hall of Fame – Most Powerful Women in Business, received the Global Empowerment Award (UK) from Her Royal Highness, the Duchess of Kent, and was recognized by the President of India for her contributions to corporate governance.

She currently serves on the boards of Allergan India and EssilorLuxottica, and is a member of the Board of Governors at Sidra Medicine, Qatar Foundation (2019–present). She previously served as a Director on the Board of Nestlé India until March 2014 and on the Board of Dean’s Advisors to the Harvard Business School until 2024. Dr. Piramal also holds long-standing academic affiliations, serving since 2010 with Harvard University, including as a Member of the Board of Dean’s Advisors at the Harvard School of Public Health (2010–present) and the Harvard Business School (2011–2024), and as a Member of the Harvard Board of Overseers (2012–2018).

Dr. 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.

Other Directorships / Full time positions in body corporates

Rajeev Mehrishi

Independent Director

Mr. Rajeev 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.

Other Directorships / Full time positions in body corporates

Asheet Mehta

Independent Director

Asheet Mehta is a Senior Partner in McKinsey & Company’s New York Office, where he has served a broad range of players across the financial services industry and the public sector. He previously led the Financial Services Practice in the Americas and Co-led the Financial Services Practice globally. He has also been a member of the Firm’s Shareholders Council (McKinsey’s board) and holds various other leadership roles, including leading an effort to serve disruptive industries and earlystage companies.

Mr. Mehta has deep expertise in financial services having served leading insurers, wealth and asset managers, payments companies and both regional and local banks. Client engagement topics have ranged from corporate strategy, organization, marketing, and operations/ technology as well as risk and regulation across the full range of wholesale and consumer financial products and services.

Working together with executive teams, Mr. Mehta supports efforts to address a full spectrum of strategic and operational challenges. He has helped restructure organizations, boost the performance of sales and marketing, and rethink operations, including technology platforms and risk and regulation approaches. He has also advised both new and established companies as they navigate the market turbulence caused by rapidly changing digital technologies, evolving consumer expectations, and unpredictable regulatory frameworks. His work has ranged from corporate strategy and assisting with large scale transformations to functional performance improvement and organizational effectiveness.

Mr. Mehta has a B.S. in Electrical Engineering from Columbia University and an M.B.A. with High Honors in Finance and Production Management from the University of Chicago. He is currently on the board of the Asia Society and the board of visitors of Columbia University’s School of Engineering and Applied Science. In addition, he is on the board of CreditEnable, a startup focused on SME lending. He was formerly President and board member of Partnership with Children, a not-for-profit that serves at-risk children in New York City’s Public Schools.

Other Directorships / Full time positions in body corporates