PRIME SECURITIES LIMITED Prime Securities Limited Announced that the Board of directors of the Company, at its meeting held, has considered and approved the change in designation of Mr. Ashok Kacker from Non-Executive and Non- Independent Director to Non-Executive and Independent Director of the Company. Mr. Ashok Kacker will remain on the Board as Independent Director, up to September 26,2027, 5 years from the date of original appointment. The above change is subject to the approval of shareholders.
Reason for change Change In designation from Non-Executive and Non- Independent Director to Non-Executive and Independent Director, Date and Term of To hold office until September 26,2027, i.e. 5 years from the Appointment date of original appointment. Ashok Kacker has more than 3 decades of experience of working in the Government as an Indian Revenue Service (IRS Income Tax) Officer. After seeking voluntary retirement from Government in 2007 (while working as a Chief Commissioner of Income Tax), he is currently involved in providing Financial Consultancy Services.
During his long years with the Government, he held important senior positions both in Executive capacities as well as in policy formulation roles and enjoyed a distinguished track record. His skills and strengths include a vast reservoir of inter sectoral knowledge particularly in areas relating to Finance, Taxation and Capital markets and in- depth knowledge of the working of the Government at policy making levels. He has served as a nominee on various Government committees in the past.
He was a SEBI nominee director on the board of the Delhi Stock Exchange and the UP Stock Exchange and was singularly successful in taking transparency in Stock Exchange Administration to newer heights, thereby increasing the confidence of small investors in the domestic capital market. He was the member secretary of the P.K. Kaul Committee set up by SEBI to determine the role and the responsibilities of Trustees in the area of Asset Management. He has served as the SEBI nominee on the Committee set up by the Ministry of Corporate Affairs to protect the interest of investors.
Ashok Kacker serves as an Independent Director on the Board of Max India Limited, a multi business corporate in the fields of healthcare, Health and Life Insurance and senior living. He was in the past also an independent director with other companies of the Max group namely Max Ventures and Industries Ltd. and Max Speciality Films Ltd. He has also been the member on the Governing Board of the Umrao Institute of Medical Science and Research Trust at Thane (Mumbai). Ashok Kacker is the Founder and Managing Partner of A. K. Advisors and Consultants, an Advisory Company in area of Financial Services located at Mumbai.
The advisory services include matters before Sebi and the Securities Appellate Tribunal (SAT). Between 2007-18, he served as Chairman /Director of Indiabulls Asset Management Co Ltd. (a SEBI approved Mutual Fund) and also as Chairman /Director of Indiabulls Industrial Infrastructure Ltd. (a Govt. of India approved SEZ at Nashik, Maharashtra) Ashok Kacker has also served on the Board of Mahindra Satyam in 201213 as an Independent Director having been nominated by the Ministry of Corporate affairs, Government of India to protect the interest of small investors in the company.
He presently serves as Director /Chairman with Samco Asset Management Company Ltd. He also serves as Director/Chairman of Golden Greens Golf & Resorts Limited, an exclusive and one of its kind golf course in the National Capital Region of Delhi Gurgaon. He also serves as an Independent Director with Leap India Food and Logistics Pvt Ltd. and as an independent Director with Delhi Guest House Pvt Ltd. He holds a Masters degree in Physics from the University of Allahabad where he topped his class in 1972.
