ICRA’s Independent Directors Arun Duggal And Ranjana Agarwal Have Retired

The second consecutive term of appointment of Arun Duggal and Ranjana Agarwal as Independent Directors of ICRA Limited ended on November 10, 2024. Consequently, Duggal ceased to be the Chairman and an Independent Director and Agarwal has also ceased to be an Independent Director of the company with effect from November 11, 2024.

Arun Duggal, 77, was associated with several leading companies such as Ask Automotive Ltd., Jubilant Pharma, ITC Ltd., Mangalore Chemicals & Fertilisers Limited, International Asset Reconstruction Company, and Info Edge. He joined the ITC Board as a Non-Executive Independent Director on September 15, 2014. Over the years, he has held various directorships, including roles at the American Chamber of Commerce India, Citibank Korea, Transparency International India, Petronet LNG Ltd., Zuari Group Companies, Adani Ports & SEZ, and ReNew Power Ltd.

With a 26-year career at Bank of America, Duggal is also known for his contributions beyond banking. In 2018, he helped establish the Centre of Excellence for Research on Clean Air (CERCA) at IIT Delhi, which focuses on developing technological solutions and advocating policies to reduce air pollution in India. He also founded the “Women on Corporate Boards” program under FICCI, aimed at mentoring high-potential women through corporate leadership. Additionally, he is a visiting professor at IIM Ahmedabad and a recipient of the Distinguished Alumnus Award from the institute.