LIC Mutual Fund Trustee to get Ashok Paranjpe as an independent director

Managing Partner of Mumbai-based law firm MDP & Partners, Ashok Paranjpe, will be joining the board of LIC Mutual Fund Trustee Pvt. Ltd. as an Independent Director. Paranjpe began his career with Wadia Ghandy & Co and since June 2011, he is managing partner of MDP & Partners. “Corporate Governance is critical now and the role of Independent Directors is very important and encompasses the internal and external factors that affect the interests of a company’s stakeholders, including shareholders, customers, suppliers, government regulators, and management,” said Ashok Paranjpe. “In the changing paradigm, 4Ps People, Purpose, Process and Performance have become critical for corporate sustainability,” he added. HN Motiwalla, Rammohan N Bhave and Thomas Panamthanath are other independent directors of the company. Presently, the LIC of India owns 49% in LIC Mutual Fund Trustee. LIC Housing Finance and GIC Housing Finance own 35.30% and 15.70% respectively.

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