Board of Directors

Sri.Arun Duggal

Sri Arun Duggal (holding Director Identification No 00024262 ), is a Mechanical Engineer from the Indian Institute of Technology, Delhi, and an MBA from the Indian Institute of Management, Ahmedabad. He teaches a course on Venture Capital & Private Equity at the Indian Institute of Management, Ahmedabad as a visiting Professor. He is a US national and overseas citizen of India.

Sri Duggal had a two and a half decade career with Bank of America, mostly in the U.S., Hong Kong and Japan. He spent ten years (1981-1990) with the New York Corporate Office of Bank of America handling multinational relationships. From 1991-1994 as the Chief Executive of BA Asia Limited, Hong Kong, he looked after Investment Banking activities for the Bank in Asia. In 1995, he moved to Tokyo as the Regional Executive, managing Bank of America's business in Japan, Australia, and Korea. His last assignment was as Chief Executive of Bank of America in India from 1998 to 2001. From 2001 to 2003 he was Chief Financial Officer of HCL Technologies, India. Sri Duggal is a senior advisor to TPG Capital, a major private equity firm head quartered in San Francisco.

Sri Duggal is involved in several initiatives in social sector. He is a Trustee of Centre for Civil Society, New Delhi, which focuses on improving the quality and access of education to students especially for the poor.

He was on the Board of Governors of the National Institute of Bank Management. He is a Board Member and erstwhile Chairman of the American Chamber of Commerce, India.

He serves on the Board of Adani Ports and Special Economic Zone Limited (Member – Audit Committee), Dish TV India Ltd (Member – Audit Committee), Info Edge (India) Limited (Chairman-Audit Committee), International Asset Reconstruction Company Private Limited, Shriram Capital Limited, Shriram Transport Finance Company Limited, Zuari Agro Chemicals Limited (Chairman – Audit Committee) , Jubilant Energy N V., Netherlands (Chairman-Audit Committee), Sanlam Limited, South Africa, Sanlam Life Insurance Limited, South Africa.

Sri R Duruvasan
Sri Duruvasan Ramachandran (holding Director Identification No 00223052) a Commerce Graduate has been serving the Shriram Group for more than 3 decades. He has started his career with Shriram Chits at Chennai in the collection department and has worked his way up to being CEO and Executive Director of Shriram Chits P Ltd, Hyderabad. He was instrumental in the growth of the Company during his stint at Hyderabad and has expanded the Company from 16 branches to 202 branches.

During his tenure the Company flourished as the largest chit fund Company in the country. In terms of Auction Turnover, No of Branches, Manpower and Customer base, his contribution paved way for the Shriram Group to expand its Deposit and NCD portfolio.

Sri Duruvasan was the Managing Director and Principal Officer of Shriram Life Insurance Company Ltd.

He also serves on the Board of CES Limited.

Sri Subramaniam Krishnamurthy
Sri Subramaniam Krishnamurthy (holding Director Identification No 00140414 ), holds a degree of Bachelor of Arts from the University of Madras, a Commercial Education Diploma in specialized banking from the Indian Merchants’ Chamber, a Diploma in Industrial Relations & Personnel Management (IR&PM) from Bharatiya Vidya Bhavan, a degree of Bachelor of General Law from the University of Mysore and a degree of Master of Labour Studies from the Madurai Kamaraj University.

He is an associate of the Indian Institute of Bankers. He has previously held the post of Banking Ombudsman, Chennai for approximately fifteen months. Sri Krishnamurthy is a senior Banker with extensive experience of over 4 decades with the Reserve Bank of India and Commercial Banks. He was the Chairman and CEO of Tamilnadu Mercantile Bank, Tuticorin for over 5 years and served as General Manager (Vigilance & Inspection/Audit) with Indian Overseas Bank, Chennai for 5 years. He was Banking Ombudsman, Chennai for around two years.

He serves on the Board of Kerala Ayurveda Limited., Take Solutions Limited, Shriram EPC Limited. and Shriram Mutual Fund (Board of Trustees).

Sri Puneet Bhatia
Sri Puneet Bhatia (holding Director Identification No 00143973 ), holds a Bachelor’s of Commerce (Honours course) from Shri Ram College of Commerce, Delhi and a post graduate diploma in Management from the Indian Institute of Management, Calcutta.

Sri Bhatia is presently working as the Managing Director and Country- Head India for TPG Asia. From 1990 to 1995, he was with ICICI Limited in the project and corporate finance group and thereafter worked as a senior analyst with Crosby Securities for a year. From 1996 to 2002 he was the Chief Executive of the Private Equity Group GE Capital India, where he managed a portfolio of numerous companies.

Sri Bhatia serves on the Board of TPG Capital India Private Limited, Shriram Transport Finance Company Limited, Flare Estate Private Limited, TPG Wholesale Private Limited, Shriram Properties Private Limited, Shriram Capital Limited, Janalakshmi Financial Services Pvt Limited, Vishal e-Commerce Pvt Limited, Havells India Limited and Manipal Health Enterprises Pvt Ltd.

Sri Ranvir Dewan
Sri Ranvir Dewan (holding Director Identification No 01254350 ), holds a degree of Bachelor of Commerce (honours course) from the University of Delhi. He is a Fellow of the Institute of Chartered Accountants in England & Wales (FCA) and a member of the Institute of Chartered Accountants Ontario.

Sri Dewan has immense knowledge in the field of Accounts and audit. He is working in TPG Capital as head of Financial Institutions Group Operations since June 2006 and is based in Singapore. He was Executive Vice president and CFO of standard Chartered First bank in Seoul, Korea.

He spent 13 years at Citibank and held various senior positions in its international businesses. In his previous assignment, he was Vice President and Regional Financial Controller of Citibank’s Global Consumer Bank with responsibilities covering 11 countries in the Asia Pacific Region. He held senior positions with KPMG in Canada and England where he specialized in the Audits of financial institutions. Sri Dewan is an advisor of Taishin Financial holdings.

He serves on the Boards of Union Bank of Colombo.

Sri Vipen Kapur
Sri Vipen Kapur (holding Director Identification No 01623192), holds a degree of Bachelor's of Commerce from University of Madras. He is an associate of the Institute of Bankers. He has rich and varied experience in the International Banking sector. He has served in Grindlays Bank (now Standard Chartered Bank) in various departments with specializations in Corporate Banking and Finance.

He was also a Vice President and Head of the New Delhi Branch of Bank of America and gained experience in dealing with large Indian and multinational borrowers. He has served with two major Middle East banks including an affiliate of Chase Manhattan Bank (now JP Morgan Chase) in Corporate Banking and Syndications.

Sri Vipen Kapur was also the COO at Al Rushaid Group, overseeing various joint ventures, real estate operations, trading activities and international investments. He has served with the Sinar Mas Group of Indonesia as Group Managing Director. He was the President and CEO of New Quest Corporation Pvt. Ltd., the parent company of the Ballarpur Group and was responsible for business rationalization and new ventures. He is presently director on the Boards of Shriram General Insurance Company Limited, Ayurvet Ages Pvt Limited and ILD Millennium Pvt Limited.

Sri Venkataraman Murali
Sri V Murali (holding Director Identification No 00730218), holds a degree of Bachelor of Commerce from the Vivekananda College, Chennai. He is a Fellow Member of the Institute of Chartered Accountants of India and an Associate Member of the Institute of Cost & Works Accountants of India. Sri. V. Murali is the Senior Partner of M/s Victor Grace & Co., Chartered Accountants, Chennai.

He has to his credit more than three decades of experience in the areas of Finance , Accounts & Consultancy. He is elected as a Central Council Member of ICAI for three terms in succession for the periods 2004-2013. He is at present Chairman of the Board of Studies, Chairman of the Committee on Banking , Insurance and Pension, Vice Chairman of the Ethical Standards Board and a member of various committees constituted by ICAI.

He was nominated as ‘Technical Expert’ by the Comptroller and Auditor General of India, New Delhi on the Audit Boards of Power Finance Corporation Limited and Rural Electrification Corporation Limited. He was a director on the Board of State Bank of Hyderabad and was the Chairman of its Audit Committee. He serves on the Board of Andhra Chamber of Commerce, Hindustan Chamber of Commerce, Witzenmann (India) Pvt Limited, Shriram Housing Finance Limited, Hindustan Insecticides Limited, Garuda Vaayu Shakthi Limited.

Smt Maya S Sinha
Smt Maya S Sinha (holding Director Identification Number 03056226) is a graduate B A (Honours) in Economics and Mathematics from Lady Shri Ram College, Delhi University and holds a Masters' degree from the Delhi School of Economics, Delhi University specialised in Econometrics, Monetary Finance and Public Economics. She is founder Director of Clear Maze Consulting (Pvt) Limited, which is a consultancy firm in the area of PPPs since July 2013.

From June 2010 to June 2013 she was Executive Director of M/s Core Education and Technologies Limited (“CETL”) a listed company, engaged in providing technology based solutions to educational institutions in the areas of Teaching, Learning, Assessment and Governance. CETL had grown fast globally both inorganically and organically under her leadership. From 2006 to 2010 Ms Maya S Sinha was Deputy Chairman, in Jawaharlal Nehru Port Trust (JNPT), and was a trustee on the Board of Trustees of JNPT. During 2003 to 2006 Smt Maya S Sinha was Financial Advisor and Commissioner and member of Khadi and Village Industries Commission (KVIC). From 1981 to 2003 Ms Sinha was a member of the Indian Revenue Service (IRS - Income Tax), and worked in various capacities - Assistant Commissioner, Deputy Commissioner, Joint Commissioner, Additional Commissioner and Commissioner - in Metro cities of New Delhi, Mumbai and Chennai as well as non-metros like Nagpur.

Presently she holds directorship in Clear Maze Consulting Private Limited, CMC Skills Private Limited, Shreyas Shipping and Logistics Limited, Indian Clearing Corporation Limited, Punjab Biomass Power Limited and Shriram Equipment Finance Company Limited.

Sri Pranab Prakash Pattanayak
Sri Pranab Prakash Pattanayak (holding Director Identification No 00506007) holds a degree of Bachelor of Arts from Utkal University and a Master of Arts degree from Utkal University. He has 37 years of experience in Banking and Financial services sector. Prior to retirement, he was the Managing Director of State Bank of Mysore from 2006 to 2009.

He had also held the office of the Managing Director of State Bank of Travancore. He served as the Dy Managing Director and Chief Credit Officer of State Bank of India. During his thirty seven years of service in five banks of the State Bank, he held senior management positions, both in India and abroad, in areas like commercial banking, project finance, international banking, funds & treasury operations. He was also the Dy. M.D. and head of SBI Global IT Centre, Belapur. During his tenure at State Bank of India, Singapore, as Manager Credit and operations, he handled the bank's funding operations, forex settlements, asset liability management, trade finance and regulatory compliance.

He served as Director of SBI Factors Ltd., SBI DFHI Ltd., and C- Edge Technologies Ltd. Currently Sri Pattanayak serves on the Board of India Infoline AMC Ltd. He is a member of the rating committee of Credit Analysis and Research Limited.

Sri Ramakrishnan Subramanian
Sri Ramkrishnan Subramanian (Holding Director Identification Number – 02192747) is presently the Managing Director & CEO of Shriram Capital Ltd, which is the promoter of the Company. He holds a Chartered Accountancy and Cost Accountancy qualification and a Master in Commerce from Madras University. Sri Ramakrishnan is a versatile Banker with over 24 years of leadership experience across Asia - India, Singapore, Hong Kong Thailand, Vietnam & Philippines in leading organisations such as Citibank, HDFC Bank, ING and Standard Chartered Bank. He has rich knowledge and experience in Banking Companies and he has worked extensively across banking companies in India and abroad.

He headed retail banking of Standard Chartered Bank (2010-2015) in Thailand, Vietnam & Philippines with retail banking solutions – Deposits, Loans, Credit Cards, Wealth Management, Investments, Strategy, Franchisee growth, Regulatory Compliance. He was Managing Director, Retail Banking, Asia – ING, Singapore ( 2007-2010) (secondment – Chief of Retail bank with TMB Bank ,Thailand, joint venture with Bank of Beijing, ING’s investments in banking in India). He was on the Board of ING Vysya Bank, India (“INGV”) and was instrumental in INGV’s initial investments in Kotak Mahindra & Centurion Bank of Punjab.

He was a director (Asia Region) , Citibank based in Singapore. He led the transformation and growth of unsecured loans for Citibank – Asia Pacific (Korea, Taiwan, India, Singapore, Malaysia, Philippines) (2005-2007). His stints in Asia with Citibank and Standard Chartered encompass a variety of roles including Regional Head (Asia) covering more than 10 national markets, M&A, Joint ventures, Asset liabilities management , member of key committees of the Board of the Bank.

In India, Sri Ramakrishnan was part of the management team that set up retail banking of HDFC Bank (1999-2005). He was founding member and national head for retail asset group of HDFC Bank in India and was responsible for establishing credit & collections function. He was Head of Retail Risk Management – Bank of America 1996-1999. He was Head of Credit & Collections for Southern India for Mortgages, Personal loans, Medical equipment - Citibank, India (1991-1996).

He is a strategic thinker with a strong execution track record of creating business platforms, motivating, coaching & leading teams and a positive engagement with 360 degree stakeholders.

Sri Gerrit Lodewyk Van Heerde
Sri Gerrit Lodewyk Van Heerde (holding Director Identification No 06870337) , a citizen of South Africa holds a Bachelor’s degree in Commerce from the North West University and a Honors degree in Actuarial Science from the University of Stellenbosch in South Africa. He is a fellow of the Faculty of Actuaries in Scotland and a Fellow of the Actuarial Society of South Africa.

He is the Chief Financial Officer of Sanlam Emerging Markets since November 2012. In his 22 years of experience in the financial services industry he has held various positions in the Sanlam Group.

He serves on the Boards of Letshego Holdings Limited, Sanlam Namibia Holdings Limited, Sanlam Namibia Limited, Sanlam Life Namibia Limited, Capricon Life Insurance Company Limited, Life Office of Namibia Limited, Sanlam Namibia Trust Managers, African Life Assurance Company Botswana (Pty) Limited, Shriram Transport Finance Company Limited and Botswana Insurance Limited.

Sri Khushru Burjor Jijina
Sri Khushru Burjor Jijina (holding Director Identification No 00209953) is a Chartered Accountant with career spanning over 3 decades in the field of real estate, corporate finance and treasury management and has been with the Piramal Group (“PG”) for more than 15 years. Sri Khushru Jijina is the Managing Director of Piramal Fund Management Private Limited (PFM), the largest real estate fund and investment management platform in India, overseeing the entire spectrum of activities ranging from origination, investments, asset management, exits and new fund raising performed by an 80+ member management team under his supervision. Apart from being a key man for PFM, Sri Jijina also serves as Group Treasurer and the leads the Family Office for all proprietary investments. Prior to Piramal Fund Management Platform (“PFM”), Sri Jijina spearheaded PG’s foray into real estate development as the Managing Director of Piramal Realty. He was an Executive Director in Piramal Sunteck Realty, where he was responsible for a portfolio of projects spanning Mumbai, Navi Mumbai, Nagpur, Jaipur and Oman and oversaw all aspects of their execution. He started his career with M/S Rallis India Ltd where he held several important positions in corporate finance over a span of 12 years.

The PFM platform, under his leadership, is organized around an integrated approach to real estate funding and is capable of catering to the entire capital stack i.e. early state private equity, structured / mezzanine equity, structured debt, senior secured debt, construction finance as well as bulk buying of individual residential units. PFM currently manages / advises an AUM of $1.8bn in addition to a proprietary debt book with gross disbursements north of $1.6bn. In 2014, PFM also formalized a $0.5bn strategic JV with Canadian Pension Plan Investment Board (CPPIB) for high yield residential debt funding, the largest FDI investment into India since 2005.

PFM has been widely recognized for its many successes including being awarded the Firm of the Year – India as well as the Debt Fund Manager of the Year – Asia, by the PEI Gobal Private Equity Real Estate (PERE) awards and the ‘Best Overall Investment Manager – India’ by Euromoney in 2015. In addition PFM was also voted as the ‘Best Domestic Fund House’ by CNBC Awaaz in 2014.

Presently he serves on the Boards of Alpex Holdings Private Limited, AASAN Info Solutions (India) Limited, Gerah Enterprises Private Limited, IndiaVenture Advisors Private Limited, Neelima Investment Private Limited, Neelima Investmetns Private Limited, Nicholas Piramal Pharma Private Limited, PHL Fininvest Private Limited, Piramal Assets Reconstruction Private Limited, PEL Asset Resurgence Advisory Private Limited, Piramal Corporate Services Limited, Piramal Finance Private Limited, Piramal Fund Management Pvt. Ltd, Piramal Sunteck Realty Private Limited, Piramal Texturising Private Limited, Propiedades Realties Private Limited Shriram Housing Finance Limited, Tarapur Infrastructure Private Limited, The Swastik Safe Deposit & Investments Limited and Vulcan Investments Private Limited.

Sri Khushru Burjor Jijina
Sri Shashank Singh (holding Director Identification No 002826978) is an MBA from Harvard Business School, an MA in Economics from Cambridge University and a BA (Honours) from St. Stephen’s College (University of Delhi).

Sri Shashank Singh is a Partner and Head of the India office of M/S Apax Partners LLP (“Apax”), the global Private Equity fund based out of Europe.

Sri Shashank Singh joined Apax in 2004 in London and helped to start operations in India in 2007. He has led or participated in a number of investment deals of Apax in India in Information Communication & Technology (“ICT”) Companies and Non Banking Finance Companies (“NBFC”) like Chola, Zensar, GlobalLogic, IGATE, Apollo Hospitals, TIM Hellas, Weather Investments, TDC, Bezeq, Synetrix and Shriram City Union Finance Limited (SCUF).

Prior to joining Apax Partners, Sri Shashank Singh was a strategy consultant with Monitor Company, where he advised clients in ICT.

He is currently on the Boards of GlobalLogic, Inc, Zensar Technologies Ltd and Greatship India Ltd and was previously on the Boards of IGATE and Apollo Hospitals. He is on the Board of Dasra (an NGO) and is a Trustee of the Apax Foundation.

Sri Debendranath Sarangi
Sri Debendranath Sarangi (holding Director Identification Number 01408349) holds M A (Political Science) from the University of Delhi and M Sc (Economics) from the University of Swansea U K. Sri Sarangi is an IAS (1977 Batch), Taminadu cadre.

Sri Sarangi started his career in Indian Administrative Service (IAS), Tamilnadu Cadre as a Sub-Collector & retired as Chief Secretary, Govt of Tamilnadu. He also acted as the Advisor to the Government of Tamilnadu for few months after his retirement as Chief Secretary. In his 35 years of career as an IAS, he held the positions of Additional Secretary/ Joint Secretary/ Deputy Secretary in various departments of Govt of Tamilnadu i.e. Food & Civil Supplies, Co-operation, Transport, Revenue, Labour & Employment, Housing & Urban Development, Small Industries (now called as MSME), Forest & Environment, Youth Affairs & Sports. He also held positions of Commissioner of Commercial Taxes, Chairman of Tamilnadu Industrial Development Corporation, Chairman of State Transport Corporations in Tamilnadu (7 such corporations in the state).

He was the key person in making and implementation of policies for housing, urban transportation, airport, seaport, railway modernisation, urban planning, urban infrastructure investment, SEZ promotion, investment through joint venture, labour and factory laws, revenue rules, provisions regarding land acquisition & compensation fixation, rehabilitation of the affected.

He serves on the Boards of M/s Devinarayanan Housing and Property Developments Pvt Limited, M/s Rohini Industrial Electricals Ltd, M/s The Tamilnadu Tea Plantation Corporation Limited and M/s Voltas Ltd. He also serves as a Member of the Board of Governors, Good Shepherd International School, Ooty.

Committees

Committees