Gujarat Terce Laboratories Limited has issued a corrigendum regarding the re-appointment of Mr. Aalap Prajapati as Managing Director & Chief Executive Officer. The company clarifies that the tenure is for three (3) years, commencing from October 28, 2026, to October 27, 2029. This correction rectifies an inadvertent error in a previous intimation which had stated a five-year term.
Correction on Executive Re-appointment
Gujarat Terce Laboratories Limited has issued a clarification concerning the re-appointment of its Managing Director & Chief Executive Officer, Mr. Aalap Prajapati (DIN: 08088327). This announcement serves as a corrigendum to an earlier intimation dated 29 May 2026.
Revised Tenure Details
The company has identified an inadvertent error in the previously disclosed tenure and end date of Mr. Prajapati’s re-appointment. While the initial filing mentioned a five-year term from 28 October 2026 to 27 October 2031, the correct tenure has now been clarified. Mr. Prajapati’s re-appointment is confirmed for a period of three (3) years, commencing from 28 October 2026 and concluding on 27 October 2029, inclusive of both dates.
Shareholder Approval
It is further stated that these correct tenure details were accurately presented in the Notice convening the 41st Annual General Meeting (AGM) of the Company. The shareholders of Gujarat Terce Laboratories Limited formally approved the re-appointment of Mr. Aalap Prajapati as the Managing Director & Chief Executive Officer for the specified three-year term during the AGM held on 21 August 2026.
Disclosure Compliance
The corrected details are being provided in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This revised intimation ensures accurate reporting of key managerial personnel appointments and their terms to the stock exchange and shareholders.
Annexure I: Re-appointment Details
Event Summary
The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved the re-appointment of Mr. Aalap Prajapati as Managing Director & CEO. The decision was made during a meeting held on 29 May 2026. The appointment is for a period of 3 years, effective from 28 October 2026 to 27 October 2029, subject to shareholder approval.
Date and Term of Re-appointment
Date of Re-appointment: 28 October 2026
Term: 3 years, commencing from 28 October 2026 to 27 October 2029 (both days inclusive).
Brief Profile of Mr. Aalap Prajapati
Mr. Aalap Prajapati brings over 15 years of experience in the pharmaceutical sector. His expertise spans business strategy, operations management, marketing, and business development. He has been instrumental in driving the company’s growth initiatives and operational efficiency. Mr. Prajapati holds a management qualification from B.K. School of Business Management with a specialization in Marketing and Operations.
Disclosure of Relationships
Mr. Aalap Prajapati is the son of Mr. Natwarbhai Prajapati, who serves as the Whole-Time Director of the Company. Mr. Prajapati is not debarred from holding directorship by any SEBI order or other relevant authority.
Source: BSE
