Board of Directors

Sanjeev V. Varma

Chair of the Board

Sanjeev V. Varma is the Executive Director (Agri-Business) at Gujarat State Fertilizers and Chemicals Ltd. (GSFC), a large joint-sector company with more than US$1 billion turnover, and Karnalyte’s strategic partner. Prior to his role as Executive Director, Mr. Varma served in various roles during his 34 year tenure at GSFC. He served in the Finance Department for more than 10 years heading the Project Financing, Budgeting, Financial Control and Corporate Debt Restructuring sections. He also led the Project Development Department for 5 years. He has led various core functions of GSFC including engineering services, finance, marketing, project and business development. He is a seasoned techno commercial senior executive of GSFC’s Petrochemical and Fertilizer complex. In addition, he has served on the Boards of many Indian companies and two foreign joint ventures for several years. Mr. Varma obtained his Bachelor of Engineering degree from Sardar Patel University, Gujarat, India in 1990 and joined GSFC as a Trainee Engineer. While serving at GSFC, he obtained his Master of Business Administration (Finance) in 2002 from MS University Baroda securing Gold Medals for his academic achievement.

D.C. Anjaria

Chair of the Audit Committee

D.C. Anjaria is a management graduate from the Indian Institute of Management in Ahmedabad, India. He has extensive international banking experience in India, Africa, the Middle East and Europe. Since returning to India, his focus has been on the financial markets industry where he works closely with investment banks, brokerage houses and mutual funds. As a financial markets professional, he has significant experience as a government policy advisor including advisor to the Securities and Exchange Board of India and the Securities Markets Regulator (BAPEPAM) in Indonesia. Mr. Anjaria has a wide-range of experience serving as an independent director with many companies in India and currently serves as an independent director of Gujarat Venture Capital Fund Management and Ratnamani Metal and Tubes Ltd.  

Derek Hoffman

Chair of the Compensation, Corporate Governance and Nominating Committee

Derek Hoffman is a corporate/commercial lawyer with the Hoffman Group advising public and private entities in a range of industries including mining, energy, agriculture and technology. Derek also brings significant mining experience having previously served as a Partner and Leader of the Mining Group at Miller Thomson LLP, a leading Canadian law firm, and also as in-house counsel for the global mining company BHP where he advised on a broad range of matters involving mineral exploration, strategic transactions and mine and associated infrastructure development and construction. Derek obtained a Bachelor of Commerce (with Distinction) and Juris Doctor from the University of Saskatchewan.  

Dilip V. Pathakjee


Dilip V. Pathakjee is the Senior Vice President of Materials Management at Gujarat State Fertilizers and Chemicals Ltd. (GSFC), a large joint sector company with more than US $1 billion turnover, and Karnalyte’s strategic partner. Mr. Pathakjee has over 30 years of experience in operations, research and development, finance, marketing, materials management, and management of foreign projects. During the past 5 years Mr. Pathakjee has held other senior roles at GSFC including Vice President (Finance) and Senior Vice President (Finance). Mr. Pathakjee holds a Masters in Chemical Engineering, a Masters in Business Administration, a Post Graduate Diploma in Treasury and Risk Management and a Diploma in Industrial Psychology.

Ritu Malhotra

Vice Chair of the Board

Ritu Malhotra is the President and CEO of March Consulting Associates Inc.(March). Ritu is an accomplished business leader with experience in engineering, leadership and board governance.  Ritu has experience in sponsoring and strategic management of projects in Canada’s heavy industrial sector, specifically in mining and clean energy.  Ritu has a Bachelors and a Ph.D. in Engineering from the University of Saskatchewan and is a registered professional engineer in the provinces of Saskatchewan, Alberta, British Columbia, Manitoba and the NWT.  She was recognized as the Engineer of the Year by Saskatoon Engineering Society in 2020.  She was also awarded the YWCA Women of Distinction Award in 2022 and Queen Elizabeth II Platinum Jubilee Award in 2023 for her contributions to business in Saskatchewan.  She has served on the University of Saskatchewan’s Board of Governors since 2017 and chairs the Land and Facilities Committee.  She is also the Chair of the Board of the Saskatchewan Industrial & Mining Suppliers Association.