Nimmagadda Prasad
| Nimmagadda Prasad నిమ్మగడ్డ ప్రసాద్ |
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| Born |
11 October 1961 Krishna District, Andhra Pradesh India |
| Residence | Hyderabad, India |
| Education |
Delhi University Institute of Management Technology, Ghaziabad |
| Occupation | Chairman, MAA TV |
Nimmagadda Prasad (born 11 October 1961) is an Indian industrialist from Andhra Pradesh, India, known for his ventures in the Pharmaceutical and Television industries, and is involved in philanthropic activities through Nimmagadda Foundation. Along with actor Akkineni Nagarjuna, Prasad is one of the major shareholders of the popular TV channel Maa TV.
In 2006, Prasad sold off his majority shares in Matrix Pharmaceutical to Mylan Laboratories, USA, a large generic Pharmaceutical Company. For his achievements, the state government has honoured him with the "Best Management Award" in 2006. On the other hand, in 2012, he was jailed during CBI's investigation on Y. S. Jaganmohan Reddy's Disproportionate Assets, for allegedly having paid Rs. 8.50 billion on a quid pro quo amounting to Rs 14261.7 million investments in VANPIC and other firms held by him, during Y. S. Rajasekhara Reddy's government. However, these assets were subsequently attached by the Enforcement Directorate of India, and Prasad was granted bail after seventeen months.
Son of an army officer, Prasad obtained his BSc degree from Babu Jagjivanram Govt. College, Hyderabad, and then his MSc from the University of Delhi, followed by a post graduate diploma in management from Institute of Management Technology, Ghaziabad.
Prasad started his career as a management trainee in Indian Molasses Company in Delhi (an associate of United Molasses Company, UK) in 1984 and was promoted to salesman at Rhone Poulenc Chemicals and then to Vorin Laboratories as general manager of marketing in 1993, from his continuous efforts was elevated to managing director in 1995. When Indian pharma market leader Ranbaxy Ltd. acquired Vorin, Prasad was re-designated Senior managing director and chief executive officer.
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