Board of Directors

Mr. Arun Duggal 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.

Mr. 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. Mr. Duggal is a senior advisor to TPG Capital, a major private equity firm head quartered in San Francisco.

Mr. 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 is the Chairman of Bellwether Microfinance Fund which provides equity capital to promising Micro Finance organizations.

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 Shriram Transport Finance Company Limited, Shriram Capital Limited, Patni Computer Systems Limited (Chairman - Audit Committee), Zuari Industries Limited (Member - Audit Committee), Zuari Holdings Limited (Chairman - Audit Committee), Info Edge (India) Limited ( Chairman - Audit Committee), Dish TV India Limited (Member - Audit Committee), Adani Ports and Special Economic Zone Limited (Member - Audit Committee), International Asset Reconstruction Company Private Limited, Axis Private Equity (Member of Investment Committee), Sanlam Limited, South Africa, Sanlam Life Insurance Limited, South Africa, Jubliant Energy N.V. Netherlands (Chairman - Audit Committee), Jubliant Energy Limited, Canada and Mortice Limited, Singapore.

Sri R Duruvasan 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 Co. Ltd.

He also serves on the Board of Serve All Enterprise Solutions Ltd.

Mr. S Krishnamurthy holds a Masters degree in Labor Management and a Post-Graduate Diploma in Industrial Relations & Personnel Management (IR&PM), besides a Bachelor’s Degree in General Law. He is also a certified Associate of the Indian Institute of Bankers. Mr. 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 Ltd. (Chairman - Audit Committee), Take Solutions Ltd (Member - Audit Committee), Shriram EPC Ltd. (Member - Audit Committee), and Shriram Mutual Fund (Board of Trustees).

Mr. G S Sundararajan holds a Bachelor of Engineering degree from Coimbatore and a post graduate diploma in management from Indian Institute of Management, Ahmedabad. Mr. G S Sundararajan is at present the whole-time director of Shriram Capital Limited.

He also leads the Banking initiative for the group which is one of the key value - enhancing forays in the near future for this financial conglomerate.

Mr. G S Sundararajan was the CEO and Managing Director of Fullerton India Credit Company Ltd., a registered Non Banking Finance Company catering to the financial services needs of the retail and commercial mass markets. Fullerton India Credit Company Ltd is a fully owned subsidiary of Temasek Holdings, Singapore. He also served as the Managing Director of Fullerton Enterprises Private Limited, a KPO, which had formed a strategic alliance with the Centurion Bank of Punjab to jointly drive the SME business.

Mr. G S Sundararajan with an impeccable track record of successful design and execution of appropriate business models in SME and the under served sectors of the large Indian economy. He was nominated to the Boards of two financial services investments of Temasekin China, one in Nanjing for the SME Business and the Other in Chengdu in their village bank franchise.

He serves on the Board of Shriram Capital Limited, Shriram Credit Company Limited, Shriram General Insurance Company Limited, Shriram Life Insurance Company Limited, Vistaar Financial Services Private Limited and Shriram Equipment Finance Company Limited.

Mr. Puneet Bhatia holds a Bachelor's degree in Commerce (Honors) and is an MBA from the Indian Institute of Management, Calcutta.

Mr. Bhatia is presently working as the Managing Director and Country- Head India for TPG Asia.

From 1990 to 1995, he was with ICICI Bank 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 that included companies such as TCS, Patni Computers, Birla Soft, Serra Atlantic, iGate, Indus Software and Rediff.

Mr. Bhatia serves on the Board of Shriram Transport Finance Company Limited, Shriram Capital Limited, TPG Capital India Private Limited, TPG Wholesale Private Limited, Shriram Holdings (Madras) Private Limited, Shriram Properties Private Limited and Flare Estate Private Limited.

Mr. Ranvir Dewan is a Fellow of the Institute of Chartered Accountants in England & Wales (FCA) and a member of the Canadian Institute of Chartered Accountants (CA). He holds a Bachelor of Commerce (Honours) Degree from Delhi University, India.

Mr. 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.

He serves on the Boards of Shriram Transport Finance Company Ltd., PT Bank Tabunean Pensiunan Nasional (Indonesia) (Member of Audit & Risk Committee), Thai Retail Credit Bank, Bangkok (Member - Audit Committee), TPG Asia V Amber Pte Ltd., TPG Markets Amber Pte Ltd. and TPG VI Amber Pte Ltd.

Mr. Sunil Varma a graduate in Economics, is a Chartered Accountant and a Cost & Management Accountant. A business consultant with a long and distinguished career, Mr. Varma has extensive consulting experience spanning over 30 years with Price Water house Management Consultants and the IBM Consulting Group in India and Overseas. He has worked in Australia, India, Indonesia, Hong Kong, Thailand, China and other countries in Africa and the Asia-Pacific region.

During his 25 year tenure with Price Waterhouse (now Price Water house Coopers) he headed the consulting practice in Indonesia between 1978 and 1984. Thereafter, he was the Vice-President of the regional/ transnational practice of Price Water house in Asia Pacific until he joined IBM Global Services as the regional advisor to their consulting group in 1994.

Mr. Varma has advised large multinational as well as domestic companies in the areas of Corporate Governance, Financial Management, Organizational Strengthening, Efficiency Improvements, Process Re-engineering and Business Systems.

The industries to which his expertise extends include Information Technology, Oil and Gas, Fertilizers and Chemicals, Power and Steel. He has handled several very large assignments for PSUs funded by the World Bank, Asian Development Bank and other multi-lateral funding agencies. He officiated as CFO, HCL-Perot Systems and MD, Asia Online Ltd., Hong Kong.

He serves on the board of International Asset Reconstruction Company Pvt Ltd., HKT Limited (Chairman - Audit Committee), HKT Management Ltd. (Chairman - Audit Committee).

Mr. Vipen Kapur holds a Bachelor's degree in Commerce from the University of Madras and became 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 Coprorate Banking and Syndications.

Mr. 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 Managing Director of Golden Agri Resources (India) Pvt. Ltd.

Sri V Murali is a Bachelor of Commerce from the reputed 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.

Mr. 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 sucession 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.

Since 2006-07, he has been an Executive Committee Member of The Madras Chamber of Commerce & Industry, Andhra Chamber of Commerce, The Tamil Chamber of Commerce and Hindustan Chamber of Commerce. He is the elected Vice-President of The Hindustan Chamber of Commerce.

Mr. V. Murali is a prominent social worker dedicated to public causes and connected with various Professional, Cultural, Social, Voluntary, Non- Profit Organisations, Public Charitable and Welfare Organisations.

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 Neyveli Lignite Corporation Ltd (Chairman - Audit Committee) and . Witzenmann (India) Pvt Ltd (Member - Audit Committee).

Mr. K. R. Ramamoorthy holds degrees in Economics and Law and is a senior Fellow Member of the Institute of Company Secretaries of India.

Shri K. R. Ramamoorthy is a senior banker, with over 40 years of commercial and banking experience in India. He was the Chairman and Managing Director of Corporation Bank, (1990 - 1997) and the Chairman and CEO of ING Vysya Bank, (1997 - 2001). He is credited with providing transformational leadership to these two banks, at different periods of financial liberalization in India. He served as the non-Executive Chairman of ING Vysya Bank until June 2010.

After his leadership positions,Mr. Ramamoorthy served as an Advisor to CRISIL (2001-2004), on its advisory assignments relating to commercial banks, in the area of development of risk rating model for SMEs.

Since 2005, he has been consulting independently, through his firm, Bank Consult, for The World Bank, IFC, IMF and other multilateral agencies and commercial banks in India and other developing countries in South Asia and Africa like Sri Lanka, Nepal, Afghanistan, Cambodia, Tanzania, Ghana and Gambia in varied areas like Credit Risk Management, SME financing, portfolio due diligence, Bank Restructuring & Turnaround and Leadership Development. Mr. Ramamoorthy's expertise is also availed of by private equity investors in the financial sector space for investment in commercial banks. His firm also handles capacity building programs for commercial banks.

During his tenure in the banking sector, Mr. Ramamoorthy served on the various Committees constituted by the Reserve Bank of India (RBI), SEBI and the Indian Banks Association. He Chaired the Advisory Committee on Human Resources Management for RBI, Working Group on Discounting of Bills Banks and Stock Brokers participation in commodity markets. He served on the Working Group on Restructuring Weak Public Sector Banks" (Verma Committee) and the Advisory Committee on Flow of Credit to Agriculture & Related activities from the Banking Systems. He also served as Convener, Economic Affairs Panel, Confederation of Indian Industry (CII), and Karnataka

Prior to joining the Banking Industry in his formative career, he served the private sector entities for nearly two decades - in Pharma, Entertainment, and Engineering and Consumer Product Marketing Organizations including Lipton.

Mr. Ramamoorthy serves on the Board of The Clearing Corporation of India Ltd., Subros Ltd.,Nilkamal Ltd., Amrit Corp. Ltd., GMR Infrastructure Ltd., IFCI Factors Ltd., Clearing corp Dealings Systems (India) Ltd., FIL Trustee Company Pvt Ltd., Ujjivan Fiancial Services Pvt Ltd., GMR Power Corporation Pvt Ltd., GMR Ambala- Chandigarh Expressways Pvt Ltd.

Mrs. Lakshmi Pranesh holds B Sc and M Sc (Mathematics) degrees from the University of Madras, securing the Fischer medal for Mathematics.

She joined the Indian Administrative Service in 1968 and held posts like Sub Collector, Director of Social Welfare, Director of Employment and Training, Joint Secretary to Government (Finance department), Additional Secretary to Government (Rural Development department), Chairman-Teachers' recruitment Board, Chairman-Handicrafts Development Corporation, Secretary to Government of Tamil Nadu in the departments of Chief Minister's Nutitious Noon Meal Programme, Personnel and Administrative Reforms, Labour and Employment, Social welfare, Food and Civil Supplies.

She was the Chief Secretary to the Government of Tamil Nadu (2002-05).

She was ex-officio Chairman of the Tamil Nadu Civil Supplies Corporation, Overseas Manpower Corporation, and Women's Economic Development Corporation.

She served as Government nominated Director in many corporations in the Public Sector like the Tamil Nadu Industrial development Corporation, Small Industries Development Corporation, Police Housing Corporation, Agro-industries Corporation.

She participated in many international conferences dealing with subjects like Rural Development, Gender Equity, Micro-credit, Disaster Management and Labour Welfare.

Presently, she does not hold Directorship in any other company.

Mr. Pranab Prakash Pattanayak holds post graduate degree in Economics. 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 & 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., Director of SBI DFHI Ltd. and as Director of C-Edge Technologies Ltd.

Currently Mr. Pattanayak is an Independent Director on the Board of India Infoline AMC Ltd. He is a member of the Rating Committee of Credit Analysis and Research Limited.