Glenmark Pharmaceuticals ltd — Board/Management Information 2020

Aug 14, 2020

August 14, 2020

To, To, Dy. General Manager The Manager - Listing, Department of Corporate Services, BSE Ltd., P. J. Towers, Dalal Street, Fort, Mumbai - 400 001.

National Stock Exchange of India Ltd., Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

Ref: Scrip Code: 532296

Ref: Scrip Name: GLENMARK

. Dear Sirs, \ '

Sub: Outcome of the Board Meeting - 14th August, 2020

The Board of Directors of Glenmark Pharmaceuticals Limited at its meeting held on August 14, 2020, considered and approved the following:

I. Appointment of Mr. Dipankar Bhattacharjee (DIN: 08770548) as an Additional Director to hold office as an Independent Director of the Company for a period of five years with effect from 14th August, 2020, not liable to retire by rotation, subject to the approval of the members of the Company in the ensuing Annual General Meeting. Mr. Dipankar Bhattacharjee is not debarred from holding the office of director by virtue of any order passed by SEBI or any other authority.

Accordingly, please find enclosed the requisite information as required under SEBI Circular dated 9th September, 2015 in Annexure A, content of which is self-explanatory.

II. Recommendation of Appointment of Statutory Auditors:

With reference to the captioned subject, we wish to inform you that the Board of Directors, based on the recommendation of the Audit Committee, have, at their meeting held on 14th August, 2020, recommended the appointment (for the approval of the shareholders) of M/s Suresh Surana & Associates, Chartered Accountants (Firm Registration No.121750W/W-100010) as Statutory Auditors of the Company, as the term of existing auditors M/s Walker Chandiok & Co LLP will end at the conclusion of the ensuing AGM, in accordance with provisions of Section 139 of the Companies Act, 2013 read with rules made thereunder.

The appointment of Statutory Auditors will be placed before the Members for their approval at the ensuing 42nd Annual General Meeting of the Company.

The details of the Statutory Auditors as required under SEBI circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is enclosed herewith as Annexure B.

You are requested to take the same on record.

Thanking You.

Yours faithfully, For Glenmark Pharmaceuticals Ltd.

Harish ~ Kuber

Company Secretary & Complic1nce Officer

Encl: As above

Annexure A

Disclosure of events and information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015

	Sr.No.	Particulars	Details
	1.	Name of Director	Mr. Dipankar Bhattacharjee (DIN: 08770548)
	2.	forchangeviz.Reasonappointment, resignation,removal,deathorothen,·ise	Appointment
	3.	Date of appointment &term of appointment	AppointmentofMr.DipankarBhattacharjee(DIN: 08770548) as an Additional Director -IndependentDirector of the Company for a period of five years w.e.f.14th August, 2020, not liable to retire by rotation, subjectto approval of the members of the Company.
	4.	Brief Profile (in case ofappointment)	Mr. Dipankar Bhattacharjee has over 30 years of globalexperience in leading Generics, Specialty and OTC Pharma,Medical Devices, and FMCG businesses. Mr. Dipankar haveledhighperforming teams to develop andexecutebusiness strategies across all stages of business cycles,driving growth and value through commercial innovationand focused R&D investments.
			Mr. Dipankar was associated with Teva group from 2009to 2017. In his recent stint with Teva, he was President &CEO -Global Generics Medicines, Officer and Member ofTeva Executive Committee (TEC).
			He played major role during his tenure with Teva asPresident & CEO of Teva Europe Generics; Senior VicePresident of Teva Western Europe; Chief Executive Officerof Teva UK Ltd.

		Prior to Teva he had worked with Bausch & Lomb & Bankof America.Mr. Dipankar has Bachelors degree in Economics fromUniversity of Delhi, India and has .also done Master ofManagement Studies from Jamnalal Bajaj Institute ofManagement Studies, University of Bombay, India.
5.	Disclosureofrelationshipsbetweendirectors(inofcaseofappointmentadirector)	Mr. Dipankar Bhattacharjee is not related to any BoardMember of the Company.

I

Information as required under SEBI circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015

Sr. No.	Particulars	Details
1.	forReasonchangeviz.,appointment,resignation,removal,deathorotherwise	Pursuant to the provisions of Section 139 ofthe Companies Act, 2013 read with rulesmade thereunder, an audit firm can beforappointedstatutoryauditorsaasmaximum of two terms of 5 consecutiveyears.
		&M/s.WalkerChandioktheCoLLP,Statutory Auditors holdoffice until theof the 42nd Annual GeneralconclusionMeeting (AGM) of the Company and are noteligible for reappointment for another termas per Section 139 of the Companies Act,2013.
		In this regard, the Board recommended theofM/sappointmentSureshSurana&Associates,CharteredAccountants(FirmRegistration No.121750W/W-100010) as theStatutoryAuditorsforapprovalof theMembers at the ensuing 42nd AGM of theCompany.
2.	Date of appointment / -cessation(as applicable)& term of appointment;	The appointment of M/s. Suresh Surana &Associates,CharteredAccountants(FirmRegistration No. 121750W/W-100010) asStatutory Auditors of the Company shall befor a term of 5 consecutive years from theofconclusionthe42thAGMtilltheconclusion of 47th AGM of the Company.
3.	Briefprofile(inofcaseappointment);	•Suresh Surana & Associates LLP ("SSA") isthe Indian member firm of RSM Networkand RSM US is the 5th largest accounting andconsulting firm in the United States.
		•SSA/RSMAstute Consulting Group alongwith its affiliates (together referred as 'RSM

India') consistently ranks amongst lndfa\ top 6 audit, tax and consulting groups [International Accounting Bulletin-India Surveys 2011-18]. •Group strength of about 1,800 personnel •PAN - India presence with offices in 11 key cities •Core services include Assurance Services, Internal Audits & Risk Advisory, Corporate Tax & GST, IT Systems Assurance & Solutions and Operations Consulting •Multi-disciplinary personnel comprising of CAs, MBAs, Engineers, CMAs, CISAs/lSAs, Forensic Professionals, Company Secretaries & Law Graduates, etc. •Clients include several large Indian groups, multinational corporations and firstgeneration entrepreneur.