Full Press Release Details
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)
BSE Limited (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd (Stock Code: DRREDDY)
It has come to our attention that there are
certain allegations pertaining to our engagement with Agora Advisory Private Limited. We would like to clarify that for a limited period
from October 2020 to April 2021, we engaged the services of Mr. Dhaval Buch of Agora Advisory Private Limited for leadership coaching
for a total remuneration of Rs. 6,58,000 (six lakh, fifty-eight thousand rupees only).
We routinely engage external coaches to enable
significant role transitions of our leaders. Mr. Dhaval Buch's work in India and globally for Unilever was well-suited to coach
the identified leader in our Company, and the remuneration paid to Mr. Buch was in line with that of other coaches. The assignment started
and ended well before Ms Madhabi Buch's term as SEBI Chairperson. Any suggestion that the Company was treated differently by SEBI
as a result of this would be baseless and malafide. The Company has and continues to operate in compliance with all applicable laws.
This is for your information and record.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer and Head-CSR