Half Yearly Compliance Report

Mr. Mahtabuzzaman

Nominee Director

Mr. Mahtabuzzaman has over 36 years of experience in the life insurance industry. He began his career with the Life Insurance Corporation of India (LIC) in 1989 as a Direct Recruit Officer and rose to the position of Executive Director in 2022. He has worked in different parts of the country and has handled responsibilities across almost all areas of life insurance operations and marketing. He also worked on deputation with the Insurance Regulatory and Development Authority of India (IRDAI) for three years and gained regulatory experience.

Mr. Mahtabuzzaman is a Science graduate, a Fellow of the Insurance Institute of India, and holds a Diploma in Health Insurance. He has also completed a one-year Post Graduate Executive Programme (PGEP) conducted by the Indian Institute of Management Ahmedabad (IIM Ahmedabad).

With extensive experience in life insurance administration, marketing, training, international operations, and exposure to regulatory environments of India and abroad, Mr. Mahtabuzzaman brings a strong blend of leadership and domain expertise. His professional strengths include operational leadership, development of effective control mechanisms, training and capacity building, and enhancing customer service standards. He is also recognized for his analytical abilities and keen attention for details.

Mr. Hrishit Shroff

Executive Director

Mr. Hrishit A. Shroff was appointed as an Executive Director with effect from June 27, 2019. He is a Commerce graduate and a Chartered Accountant. He has also successfully completed an executive management course at Harvard Business School. Before becoming the Executive Director of our Company, Mr. Hrishit A. Shroff worked with our Company since February 01, 2017, as the President (Environment & Biotech Business and Corporate Services). Before joining our Company, he was an Executive Director at Excel Crop Care Limited and had over 10 years of experience in the agro chemicals industry and Business Management. Amongst other positions, he holds Directorship in Excel Bio Resources Limited and Kamaljyot Investments Limited, the wholly owned subsidiaries of the Company, MobiTrash Recycle Ventures Private Limited and Agrocel Industries Private Limited.

Mr. Vihang Virkar

Independent Director

Mr. Vihang Virkar is a LLM from Mumbai University. He is a lawyer with over 22 years of experience in corporate commercial laws. He is the Lead Partner of the Mumbai Corporate practice of DMD Advocates. He is highly recommended for his practice in Aviation law. Mr. Virkar has been recognised and ranked in multiple global rankings and publications such as Asia Law, Chambers & Partners, Who’s Who Legal, Insight Success, Legal 500 and International Advisory Experts for his expertise.

Mr. Shekhar Khanolkar

Independent Director

Mr. Shekhar Khanolkar holds a B.E. degree in Petroleum and Petrochemical Engineering and an M.M.S. degree in Marketing. He has also completed an Advanced Management Programme from the Harvard Business School. He has vast experience of 30 years in Leadership, People Management, Strategy, Operation & Projects. His career spans 30 years with American and European multinationals as well as with Indian Business Houses. Currently, Mr. Khanolkar is a Director on the Board of Aarti Industries Limited.

Mr. Rajesh Varma

Independent Director

Mr. Rajesh Varma is a Chartered Accountant with over 32 years of professional experience, primarily in the areas of Corporate Governance and Enterprise Risk Management. He is currently the Managing Partner of RVCO Consultants LLP, the India Member firm of CDI Global. He is also an Independent Director on the Board of Shilchar Technologies Ltd. Mr. Varma has, over the years, worked with some of India’s largest corporations, particularly in Pharmaceuticals, Industrial Manufacturing, Infrastructure and Construction sectors.

Mr. Ninad D. Gupte

Independent Director

Mr. Ninad D. Gupte holds a Bachelor’s degree in Science from Bombay University and a PGDBM from XLRI Jamshedpur. He has also completed an Executive Programme in Agricultural Management. from Harvard Business School. He has an extensive and rich experience of 49 years in the management of companies operating in the field of fine chemicals, performance chemicals, industrial chemicals, agrochemicals and social enterprises. Currently, Mr. Gupte is a Director on the Board of Sumitomo Chemicals India Limited.

Dr. Meena Gallaria

Independent Director

Dr. Meena Galliara is currently appointed as the Director, Jasani Center for Social Entrepreneurship & Sustainability Management, Narsee Monjee Institute of Management Studies (NMIMS).

She has been a Fellow of the Business in Community, the Indian arm of Prince of Wales Business Forum, the UK. For a little over a decade, she worked as a Faculty Member in the Department of Social Welfare Administration at TISS.

During her work at TISS, she actively contributed to research in the area of political empowerment of women, impact assessment of social welfare schemes, labour welfare schemes, and management of NGOs. She was deputed by TISS to set up the Tata Council of Community Initiatives and was part of the Maharashtra State’s research team on the 73rd Amendment to the Constitution of India. Dr. Galliara has handled international teaching assignments with Reitaku University, Japan, University of Athens, Greece, Euromed Management School and NEOMA Business School, Management School, France.

In July 2022, she was honoured with the ‘Prof. Indira Parikh 50 Women in Education Leaders’ citation at the World Education Congress. The Certificate was endorsed by the World Federation of Academic & Educational Institutions. Apart from academics, Dr. Galliara serves as a Trustee on the Board of International Resources for Fairer Trade. She is Co-Chairman of the CSR committee and has been appointed as a Special Invitee to the Board of Bombay Chambers of Commerce and Industry

Mr. Ravi Shroff

Managing Director

Mr. Ravi A. Shroff is the young and dynamic Managing Director of our Company. He was an Executive Director of the Company w.e.f. September 03, 2014 and was elevated to Managing Director w.e.f. September 03, 2019. Before joining our Company, he served as an Executive Director for 7 years with Anshul Specialty Molecules Private Limited and spearheaded the Company on the path of growth and diversification.

At Excel Industries, he has been steering the chemical division, including the strategic new business of Pharmaceutical and Veterinary APIs and has launched several new pharmaceutical molecules/products under his stewardship. He is also a Director on the Board of group companies, including Transpek Industry Limited, Anshul Specialty Molecules Private Limited, Kamaljyot Investments Limited. He holds a BE degree in Chemical Engineering from the Mumbai University and holds a postgraduate degree in Chemistry from Boston University, USA.

Mr. Ashwin C. Shroff

Executive Chairman

Mr. Ashwin C. Shroff, as an Executive Chairman, has always led a formidable leadership. Affectionately called Ashwin bhai in our Company, he always leads by example and is the bearer of all the values that make life at Excel so special. He is firmly committed to the Excel way of working, building consensus and democratic processes.

He has been serving our Company since 1965 and his leadership continues to inspire the entire Group to march ahead. Mr. Ashwin C. Shroff is on the Board of companies such as Transpek Industry Limited, Anshul Specialty Molecules Private Limited, Climacrew Pvt Ltd and Kamaljyot Investments Limited.

He has been widely recognised for his contributions to the growth of the Indian chemical industry and has also received the Indian Chemical Council (ICC) Lifetime Achievement Award in 2012.