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Sudhir Valia steps down from executive role at Sun Pharma

Press Trust of India  |  New Delhi 

Sudhir Valia, brother-in-law of Sun Pharma's Managing Director Dilip Shanghvi, has stepped down from the position of whole-time director but will continue as non-executive director of the company, a regulatory filing said.

The pharma major in a filing on Tuesday said Valia will step down from the position of the company's whole-time director to non-executive, non-independent director from May 29, 2019.

Asked for the reasons for Valia shifting to a non-executive role, a Sun Pharma spokesperson said: "As his personal businesses are increasingly taking more of his time, he has decided to give up the role of a whole-time director in the company."

Earlier in January 2019, Sun Pharma had said that it had not given any loans nor guarantees to Suraksha Realty, a company in which Valia is one of the promoters.

Shares of Sun Pharmaceutical Industries closed at Rs 422.85 apiece on BSE, up 2.41 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 29 2019. 18:45 IST