Jai Hiremath replaces S.D Kulkarni on Novartis board
Mumbai: Hikal's vice-chairman and managing director Jai Hiremath has been appointed as director on the board of Novartis India Ltd.

He replaces S.D. Kulkarni, who has resigned from the board of directors of Novartis.

Hiremath's appointment comes into effect from January 28.
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Actis managing partner Donald Peck rejoins Punjab Tractors board
New Delhi: Donald Peck, the managing partner of Actis, a private equity firm, has rejoined the board of Punjab Tractors Ltd. Actis holds a stake of about 29 per cent in Punjab Tractors.

Peck had resigned from the board of the tractor company in June last year.

According to industry sources, Peck's resignation was then connected to a letter he had written to financial institutions raising corporate governance issues in the sell-off of Punjab Tractors' stake in Swaraj Mazda to Sumitomo Corporation. Following the sell off, Sumitomo emerged as the largest shareholder in Swaraj Mazda with a 41 per cent stake. Actis did not favour dilution of Punjab Tractors' stake at that time and had stated that the sell-off of equity was not in the interest of shareholders.

The Delhi-based Burman family, which owns the Dabur Group of companies, had picked up about 11 per cent stake in Punjab Tractors in November last year.

Currently, LIC is the second largest shareholder in Punjab Tractors with a stake of 15 per cent. Meanwhile, Punjab Tractors at its board meeting on Tuesday also decided to invite two new independent directors to join the board.
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