Gujarat Terce Laboratories Limited submitted a corrigendum to BSE Limited regarding the re-appointment of Mr. Aalap Prajapati (DIN: 08088327) as Managing Director & Chief Executive Officer.
The company identified an inadvertent error in the tenure mentioned in its original intimation dated 29 May 2026. The initial filing incorrectly stated the reappointment tenure as five years from 28 October 2026 to 27 October 2031.
The corrected tenure is three years from 28 October 2026 to 27 October 2029. This correct tenure was properly stated in the Notice for the 41st Annual General Meeting circulated to shareholders.
Shareholders approved Mr. Aalap Prajapati's reappointment as Managing Director & CEO for the three-year term (28 October 2026 to 27 October 2029) at the 41st Annual General Meeting held on 21 August 2026.
All other particulars and disclosures from the original 29 May 2026 intimation remain unchanged.
Annexure I Details
Reason for Change: Re-appointment approved by the Board of Directors at their meeting held on 29 May 2026, based on recommendation of the Nomination and Remuneration Committee.
Date of Re-appointment: 28 October 2026
Term: 3 years commencing from 28 October 2026 to 27 October 2029 (both days inclusive)
Brief Profile: Mr. Aalap Prajapati has over 15 years of experience in the pharmaceutical sector with expertise in business strategy, operations management, marketing, and business development. He holds a management qualification from B.K. School of Business Management with specialization in Marketing and Operations.
Relationship Disclosure: He is the son of Mr. Natwarbhai Prajapati, who is the Whole Time Director of the Company.
Compliance Status: Mr. Aalap Prajapati is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.