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• Details of Directors being appointed / re-appointed
As per the Statute, two-third of the Directors should be retiring Directors. One-third of these
retiring Directors are required to retire every year and if eligible, these Directors qualify for
re-appointment.
Mr. P. V. Bhide, Mr. M. B. Kapadia and Mr. R. C. Sequeira retire by rotation at the ensuing
Annual General Meeting and being eligible offer themselves for re-appointment.
A brief resume of Directors appointed / eligible for re-appointment along with the additional
information required under Clause 49 (VI)(A) of the Listing Agreement is as under:
Ms. A. Bansal
Ms. A. Bansal received a master’s degree in International Affairs, with distinction, from
Columbia University in New York, where she majored in International Finance and
Business, as well as a bachelor’s degree in Computer Engineering from Gujarat University.
Ms. A. Bansal is Managing Director of Spencer Stuart’s Indian business, which she was
instrumental in establishing. Based in Mumbai, she also co-leads the firm’s Asia Pacific Board
& CEO Succession practice.
As an active member of the Global Board practice, she works in various geographies across
the United States, Europe and Asia, advising Indian and multinational companies on CEO
and senior executive search, Board governance and succession. She also consults with
clients across sectors, including private equity, financial services, technology, industrial and
consumer goods and services.
In addition, she chairs the board of FWWB (Friends of Women’s World Banking), a leading
development and livelihood-promoting institution, serves on the board of the United Way of
Mumbai, and is a charter member of The Indus Entrepreneurs (TiE).
Ms. A. Bansal is a frequent commentator on Board governance, CEO succession,
entrepreneurship and other executive leadership issues. She is a regular columnist with
leading publications such as Mint-The Wall Street Journal and The Economic Times: Corporate
Dossier.
Earlier, Ms. A. Bansal was with McKinsey & Company as a strategy consultant. Based in
New York and Mumbai, she consulted with firms in financial services, private equity, industrial,
and technology sectors.
Mr. P. V. Bhide
Mr. P. V. Bhide, Science and Law graduate from Delhi University, has done his Master’s in
Business Administration from IGNOU. He is enrolled as an Advocate with Delhi Bar Council.
Mr. Bhide joined the Indian Administrative Service in 1973 and has served for 37 years. He
held a series of increasingly senior positions at the State and Central levels. He worked as
Secretary for Department of Finance and then Department of Energy of Andhra Pradesh.
He was a Deputy Secretary / Director in the Department of Economic Affairs, Ministry of
Finance and served as Advisor to India’s Executive Director to the International Board for
Reconstruction and Development, Washington. Mr. Bhide then served as Additional Secretary /
Special Secretary in the Ministry of Home Affairs of the Government before being appointed
as Secretary in the Department of Divestment with the Ministry of Finance. Mr. P. V. Bhide
retired as Secretary, Department of Revenue, Ministry of Finance in January 2010, a position
which he held from June 2007. He was appointed as Non-Executive Independent Director of
the Company from 28 th October 2010.
Mr. P. V. Bhide is a Director of Tube Investments India Limited, L&T Finance Limited, Ballarpur
Industries Limited, NOCIL Limited, Heidelberg Cement India Limited, L&T Finance Holdings
Limited and BILT Graphic Paper Products Limited. He is the Chairman of the Audit Committee
of L&T Finance Limited and Ballarpur Industries Limited and the member of the Audit
Committee of Heidelberg Cement India Limited and Tube Investments India Limited. He is
also the member of the Investors / Shareholders Grievance Committee of Heidelberg Cement
India Limited.
Mr. M. B. Kapadia
Mr. M. B. Kapadia is a member of the Institute of Chartered Accountants of India and of the
Institute of Company Secretaries of India. He has been in the service of the Company since
May 1987 and has held increasingly senior positions in the Finance and Secretarial functions.
He was elevated to the Board in 1996. He is currently Senior Executive Director in charge of
Finance, Company Secretarial and Administration. He has total work experience of 28 years.