Uttam Prakash Agarwal Appointed Independent Director Of 3I Infotech
The Board of Directors of 3I Infotech Limited has approved the appointment of Non-Executive Independent Director Uttam Prakash Agarwal as the Chairman of the Board of Directors of the Company with effect from December 10, 2023. He will replace Ashok Shah, who ceased to be the Chairman and Independent Director of the company, with effect from December 10, 2023.
Ashok Shah was reappointed by the shareholders in the AGM of the members held on December 23, 2020, for the second term of five consecutive years commencing on October 1, 2020, as an Independent Director of the company. However, on scrutiny of the records of the company by the secretarial auditors, M/s SAP & Associates, it was found that his reappointment as an Independent Director was for the third term, which is not permissible.
Uttam Prakash Agarwal is a Chartered Accountant with a focus on Taxation, Finance and Restructuring. With over 30 years of expertise, Agarwal has worked in areas such as Statutory Audit, Income Leakage Audit, and Stock Audit for public sector banks under the RBI’s appointment. Additionally, he has conducted audits for major companies like Bharat Petroleum, Hindustan Petroleum, Indian Oil and Larsen and Toubro.
He has served on various boards and committees, including the International Federation of Accountants (IFAC), the Central Direct Taxes Advisory Committee, and the Regional Direct Taxes Advisory Committee. He introduced UPACA Gurukul in Rajasthan, offering a comprehensive solution for CA students, combining classroom training, hostel facilities, articleships, finishing school, and regular graduation. He was the youngest President of the Institute of Chartered Accountants of India (ICAI) in 2009–10 and received recognition from the former President of India, Smt. Pratibha Devisingh Patil. He has contributed his expertise to various organisations and committees, such as the Board of Insurance Regulatory and Development Authority (IRDA), the IFRS Core Group, and the Confederation of Asian and Pacific Accountants (CAPA). As a prolific speaker, he has addressed conferences and seminars nationally and internationally and authored several books.
