Mumbai: Through a recent BSE filing, Unichem Labs has informed that Dr Prakash Amrut Mody, the Chairman and Managing Director of the Company has stepped down from the role of Managing Director of the company with the charge now being handed over to Pabitrakumar Kalipada Bhattacharyya.
As per the filing Dr Prakash Amrut Mody, the Chairman and Managing Director of the Company has resigned from the post and has been re-designated as a Non-Executive, Non-Independent Director, Chairman of the Company with effect from the close of the business hours on August 9, 2023. Consequently, he shall also cease to be the Chairman of the Risk Management Committee, Corporate Social Responsibility Committee, and Member of the Stakeholders Relationship Committee.
In the same filing, the company has announced the appointment of Pabitrakumar Kalipada Bhattacharyya as an additional director and Managing Director with effect from August 10, 2023, for a period of three years.
Dr. Prakash A. Mody, is the son of founder promoter, Late Shri Amrut Mody. He completed his post-graduation from the University of Mumbai followed by a Ph.D. in organic chemistry. He is a graduate alumnus of Harvard Business School and the former president of the Indian Pharmaceutical Alliance, the industry body representing research-based national pharmaceutical companies. He was appointed as the Director of the Company in the year 1974. Dr. Prakash A. Mody has a rich and varied experience in the industry to which the Company belongs and has been at the helm of the affairs of the Company for over forty years and during this period the Company has achieved growth and has spread its footprints in the international markets to more than eighty countries in US, Europe, Ireland, South Africa, Brazil etc.
He is said to have resigned for personal reasons.
The incoming M.D., Pabitrakumar Kalipada Bhattacharyya did his B.Tech. (Chemical) from UDCT in 1993. He did his B.Sc Chemistry (Hons.) from Calcutta University in 1989. He is currently the President Operations (API) at Ipca Laboratories Ltd. He has previously worked with several reputed Pharmaceutical companies in India. He has a rich experience of over three decades in Manufacturing & Technical Excellence, Production, Business Excellence, Project Management, Multi-sites Operations, Process Improvement, Six Sigma Project Management, Process Development, Quality Assurance, and Relationship Management
In the same filing, Pranay Premchand Godha has also been appointed as an additional director of the Company (Non-Executive, Non-Independent Director) with effect from August 10, 2023, the filing added. Godha has done BSc. from the University of Mumbai and has also obtained a degree in M.B.A from the New York Institute of Technology. He has over two decades of experience in the field of Marketing and General Management. He is the Promoter and Managing Director of Ipca Laboratories Limited, a leading global Pharmaceutical Company.
Medical Dialogues team had earlier reported that Ipca Labs had completed the acquisition of a 33.38 per cent stake in Unichem for Rs 945.35 crore.