The board consists of nine noted directors vested with the charge of general supervision, direction and management of the operations of our company. The primary responsibilities of the Board of Directors include:
Mr. Uday Y. Phadke, Director
Mr. Uday Y. Phadke is currently the Principal Advisor (Finance) at Mahindra & Mahindra Ltd. (M&M). Mr. Phadke also has been with M&M since 1973. He holds a Bachelor's Degree in Commerce and Law from the Mumbai University. A member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India, Mr. Uday was President – Finance, Legal & Financial Services Sector and Member of the Group Executive Board of M&M.
He is also a member of the SEBI Committee on Disclosures and Accounting Standards, CII National Committee on Accounting Standards and The National Group of Accounting Standards Board of Institute of Chartered Accountants of India (ICAI). Plus, he is also a Governing Council Member of the Association for Finance Professionals in India and was a Member of the Advisory Committee on Accounting Standards constituted under the Companies Act. He has been the Chairman of the Direct Taxes Committee of the Bombay Chamber of Commerce and Industry and was on the Accounting Standards Board of the ICAI.
Mr. Bharat Doshi, Bharat Doshi, former Chairman
Mr. Bharat Doshi is the former Chairman of the company Mr. Doshi led the initiative of conceptualizing, establishing and nurturing Mahindra Finance. He joined the Board of Mahindra & Mahindra Financial Services Limited in March 1992. In April 2008, he was elected Chairman of the Board and he stepped down from this position on his nomination as director on the Central Board of Directors of the Reserve Bank of India in March 2016.
Mr. Doshi joined Mahindra & Mahindra Limited (M&M) as an Executive in 1973 and was elevated to the Board of M&M as Executive Director in 1992. In November 2013, he transited from his position of Executive Director & Group CFO to Non-Executive Director. Thereafter, in August 2015, he stepped down from his position of Director of M&M. He also stepped down from his position of Director in Tech Mahindra Limited in July, 2015. He was also on the Board of M&M's Korean subsidiary, SsangYong Motor Company Limited from March 2011 to March 2014.
Mr. Doshi is the Chairman of Mahindra Intertrade Limited.
He is also an Independent Director of Godrej Consumer Products Limited.
Mr. Doshi is also on the Board of Governors of the Mahindra United World College of India, K.C. Mahindra Education Trust and the Mahindra Foundation. He is a Director on the Board of Gateway House : Indian Council on Global Relations, a foreign policy think tank in Mumbai.
Mr. Doshi was on the Board of Governors of the Indian Institute of Management (IIM), Kozikode from 1998 to 2008 and on the Board of Governors of IIM, Tiruchirappalli (Trichy) from 2010 to 2015.
Mr. Doshi holds a Master's degree in Law from Bombay University. He is a -Fellow member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. He has also participated in the Program for Management Development (PMD) at Harvard Business School. He was also a Fellow of the Salzburg Seminar on "Asian Economies: Regional and Global Relationships" held in December 2000.
Mr. Doshi was a member of the High Powered Expert Committee constituted by the Ministry of Finance, Government of India, on Making Mumbai an International Financial Centre. He was a member of the SEBI (Securities and Exchange Board of India) Committee on Disclosures and Accounting Standards (SCODA).
Mr. Doshi was a Member of Reserve Bank of India (RBI) constituted Working Group to examine a range of emerging issues pertaining to regulation of the NBFC (non-banking financial companies) sector. He was also a Member of the RBI constituted Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (CCFS).
Mr. Doshi has been associated with the Bombay Chamber of Commerce & Industry (BCCI) for over 30 years and served as its President for the year 2009-10.
Mr. Doshi's outstanding career achievements have earned him several accolades. He was adjudged "India's Best CFO" by Business Today (India Today Group Publication) in April 2005. He was also conferred the CFO of the Year Award for financial excellence by IMA India, an associate of The Economist Group, in December 2005. In November 2007, Mr. Doshi was honoured with the CNBC CFO of the Year Award. In March 2011, he was inducted by CFO India as a Founding Member to the CFO Hall of Fame in recognition of an exemplary career and a lifetime of contribution to the field of Finance. In February 2013, Mr. Doshi was awarded the CA Business Achiever – Corporate award by ICAI for his exceptional performance and achievements in the sphere of business.
Mr. Doshi's other interests include teaching, reading, and chess. He lives in Mumbai with his wife, who is a consulting physician.
Mr. Ramesh Iyer
Mr. Ramesh Iyer has been the Managing Director of the company with effect from 30th April, 2001 and is associated with us since inception. He comes with a wealth of experience in matters relating to business development, finance and marketing. Mr. Iyer is also a member of the Group Executive Board of M&M, the holding company, and on the Board of various Mahindra Group companies. He holds a Bachelor's Degree in Commerce and a Master’s Degree in Business Administration.
Mr. Iyer is a Member of the Banking & Finance Committee of the Bombay Chamber of Commerce and Industry, the Core Committee of Finance Industry Development Council (FIDC) and the Task Force of NBFCs of Federation of Indian Chambers of Commerce and Industry (FICCI). He is also the Co-Chairman of the Group on Finance & Leasing and Insurance of the Council of Economic Affairs, set up by Society of Indian Automobile Manufacturers (SIAM).
Mr. Iyer has had an illustrious career marked by numerous awards and accolades. He has won the Indian Achievers Award for Corporate Leadership by Indian Achievers Forum. He was also conferred the Business Leadership Award by the Institute of Economic Studies, New Delhi. His leadership was lauded with the ‘CEO with HR Orientation' Award by Employer Branding Institute, CMO Asia, with their Strategic Partner CMO Council. In addition, he has also received the Udyog Rattan Award by the Institute of Economic Studies, New Delhi; the Rashtriya Udyog Pratibha Award by the Council for Economic Growth & Research, Pune; and the Bhartiya Udyog Ratna Award by the National Education & Human Resource Development Organisation, Mumbai. And that's not all.
Mr. Ramesh Iyer has also featured in Business World's special report on India's Most 'Valuable' CEOs. He's ranked no. 5 out of 65 in the list of Mid-Sized Companies (Revenues: Rs. 1,000 – 3,000 cr.) category and at no. 6 out of 65 in the same category, based on its One-Year Performance. He is also ranked no. 20 out of 100, based on the company's Five Year Performance and no. 3 out of 12, based on the rankings in the financial sector.
Mr. Dhananjay Mungale
Mr. Dhananjay Mungale is a member of the Institute of Chartered Accountants of India and has a Bachelor's Degree in Commerce and Law from Mumbai University. He has spent a major part of his career in corporate and investment banking in India and Europe. He was Vice President – Private Banking, Bank of America and was a Member – Executive Committee, DSP Merrill Lynch Limited. Presently, he is an advisor to various corporations in both, India and Europe. He has been elected on boards of various public and private limited companies. He is a Member of Development Council - Oxford Centre for Hindu Studies, Oxford, U.K. and is a Member of the National Committee of Mahindra United World College.
Mr. M. G. Bhide
Mr. M. G. Bhide is a Certified Associate of the Indian Institute of Bankers and has a Master's Degree in Arts from the Mumbai University. He was the Chairman and Managing Director of Bank of India and also the Managing Director and Group Executive (National Banking) of State Bank of India. He has served on various committees constituted by the RBI. He is also on the board of Mahindra Trustee Company Private Limited, J. P. Morgan Securities India Private Limited, Mahindra Shubhlabh Services Limited and Talwalkar's Better Value Fitness Limited.
Mr. Piyush Mankad
Mr. Piyush G. Mankad has a Bachelor's and Master's Degree in Humanities from Delhi University. He then earned a Diploma in Development Studies from Cambridge University, UK. Post that, he joined the prestigious Indian Administrative Service in 1964. This was followed by major official postings that included Controller of Capital Issues, Ministry of Finance, Government of India; Principal Finance Secretary, Government of Madhya Pradesh; Secretary in the Ministry of Industry, Government of India; and Chairman of the Foreign Investment Promotion Board, Secretary Information and Broadcasting and Finance⁄Revenue Secretary, Government of India.
His overseas assignments include those as Counsellor – Economic, Embassy of India, Tokyo (1977 - 81); Executive Director for India, Bhutan, Bangladesh, Laos and Tajikistan; and Board Member for Asian Development Bank, Manila (2001 - 04).
He is presently on the Board of Directors of several high-profile companies in the private sector as Independent Director, and is also part of various governing bodies⁄trusts, including the Army Group Insurance Fund, Society for Capital Market Development and Research and the Lady Shriram College for Women, New Delhi. He also serves, from time to time, on several official committees and is at present, the Chairman of Government of India Task Force on Public Sector Enterprises.
Mrs. Rama Bijapurkar
Ms. Rama Bijapurkar holds a Bachelor's Degree in Science (Hons.) and has obtained a degree in Physics from Miranda House, University of Delhi. She went on to earn a Post-Graduate Diploma in Management from the Indian Institute of Management, Ahmedabad, where she is now an active member of the Board of Governors and a visiting faculty. She is an independent market strategy consultant and has about 30 years of experience in industries such as advertising, marketing and consultancy. She was previously associated with McKinsey & Company, AC Nielsen India and has worked as a full-time consultant with Hindustan Unilever Limited. She has several publications on the emerging market and consumer related issues and has authored the book titled ‘Winning in the Indian Market – Understanding the Transformation of Consumer India'.
Presently, Ms. Bijapurkar is an Independent Director on the boards of various reputed companies.
Mr. C. B. Bhave
Mr. Chandrashekhar Bhave started his career in the Indian Administrative Service (IAS) in 1975 after completing his bachelor's degree in Electrical Engineering. He worked in different positions in the Central and State Governments and also won awards from the Government of Maharashtra for his outstanding work in the area of family welfare and excellence in administration. He then worked in Securities and Exchange Board of India (SEBI) as a Senior Executive Director from 1992–1996, helping create the regulatory infrastructure for Indian capital markets.
Mr. Bhave then took voluntary retirement from the IAS to set up the National Securities Depository Limited (NSDL) in 1996 and was its Chairman and Managing Director from 1996 to 2008. Mr. Bhave was the Chairman of SEBI, India's capital markets regulator, from 2008 to 2011. He was also the Chairman of the Asia-Pacific Regional Committee and a member of the Technical and the Executive Committees of the International Organisation of Securities Commissions (IOSCO), over this period.
Mr. Bhave has several professional affiliations that include:
- Member of the Board of the Public Interest Oversight Board (PIOB), Madrid which supervises the work of the standard-setting bodies of the International Federation of Accountants from the perspective of public interest.
- Member of the City of London Advisory Council for India.
- Trustee of the IFRS Foundation, London that oversees the International Accounting Standards Board.
Mr. Bhave is the Non-Executive Chairman of Indian Institute for Human Settlements (IIHS) a non-profit organisation established for the purpose of creating and disseminating knowledge related to human settlements in the context of urban areas.
Mr. V. S. Parthasarathy
Mr. V S Parthasarathy is a man with multiple thinking hats and a global leader. In his role as CFO, Mahindra & Mahindra Limited (M&M) & Group CIO, he facilitates Mahindra Group in accomplishing its vision of 'being amongst the Top 50 most admired brands in the world. He is a member of the think-tank of Mahindra Group's supervisory board called "Group Executive Board". He is on board of various Mahindra Group Companies and is also a member of the Global IT Customer Advisory Board of CISCO & APJ Customer Advisory Board of HP.
Mr. Parthasarathy started his career with Modi Xerox as a Management Trainee and before he joined Mahindra & Mahindra in 2000, he was the Associate Director at Xerox. At M&M, he spearheaded functions like Finance, HR, M&A, IT and International Operations before he was appointed CFO – M&M.
He has received many accolades and recognitions in the field of Finance, M&A & IT; some notable awards being:
- As CFO
- CFO Hall of Fame – from CFO India in 2014 for life time contribution to world of Finance
- CFO of the Year' 2013 award – from International Market Assessment (IMA)
- Best CFO of India Award by Corporate Excellence Awards
- Award for Innovation & excellence for 'Treasury Transformation' from TMI
- As Group CIO
- Global CIO-Hall of Fame 2012 by Information Week,
- CIO 100 – Hall of Fame by CIO after winning the awards for 4 consecutive years.
- As Head of Mergers & Acquisition
- Best CFO Award - 2012 by Business Today / Yes Bank in the "Enhancing Competitiveness through M&As.
- Facilitation of Global M&A Strategy by CCH Wolters & Kluwer
Mr. Parthasarathy holds a Bachelor's Degree in Commerce and is a fellow member of the Institute of Chartered Accountants of India. He is Harvard Alumni of Advanced Management Program -batch 2011. He has also been part of Mahindra Group's Senior Management team for Group strategy development, facilitated by Harvard Business School.
Mr. V. Ravi
Mr. V. Ravi is the Executive Director & Chief Financial Officer of the Company and has been has been associated with the Company since its inception. Mr. V. Ravi is a Chartered and Cost Accountant.
Mr. V. Ravi has served with Mahindra Ugine Steel Company (MUSCO) for 9 years in Treasury, Finance and Diversification Projects prior to his induction in Mahindra & Mahindra Financial Services Limited way back in 1994.
Mr. Ravi is on the Boards of Mahindra Insurance Brokers Limited, Mahindra Rural Housing Finance Limited and Mahindra Asset Management Company Private Limited, Subsidiaries of the Company, Mahindra Finance USA LLC, the Joint Venture Company and Mahindra Solar One Private Limited.
Mr. V. Ravi is also on the following committees :
- Member of the Finance Industry Development Council.
- Member of Corporate Finance Committee of Federation of Indian Chambers of Commerce & Industry.
- Member of the Capital Markets Group of Banking, Finance & Economics Committee of the Bombay Chamber of Commerce and Industry.
He has also been a member of the Asia Council of the Conference Board, USA and the Informal Advisory Group of the Reserve Bank of India.
Mr. V. Ravi has received many accolades and recognitions in the field of Finance and Technology. He was awarded the "CFO 100 Roll of Honour 2014" award in the category – Winning Edge in Raising Capital/Fund Management – Revenues above Rs. 1,000 Crores' in the year 2014. He was also awarded the "CFO100 League of Excellence 2015" award by CFO 100 in the year 2015.
Dr. Anish Shah
Dr. Anish Shah is the Group President (Strategy) for the Mahindra Group. His key focus areas are strategy development and implementation, building capabilities such as digitisation and analytics, driving international growth especially in the US and Africa. The Group Strategy office also leads Risk Management and Performance Review, plus enables synergies across Group companies.
Prior to joining Mahindra & Mahindra in 2014, Dr. Anish Shah was President and CEO of GE Capital India, where he led the transformation of the business, including a turnaround of its SBI Card joint venture. His career at GE spanned 14 years. As Director, Global Mortgage, he worked across more than thirty countries to drive growth and manage risk, and as Senior Vice President (Marketing and Product Development) at GE Mortgage Insurance, he led various growth initiatives and played a key role in preparing the business for an IPO, as a spinoff from GE. Dr. Anish Shah also received GE's prestigious Lewis Latimer Award for outstanding utilization of Six Sigma in developing a "Digital Cockpit." Before GE, Dr. Anish Shah worked at Bank of America, Bain & Company, and Citibank.
Dr. Shah holds a PhD from Carnegie Mellon's Tepper School of Business where his doctoral thesis was in the field of corporate governance. He also received a Master's degree from Carnegie Mellon, and a post-graduate diploma in Management from the Indian Institute of Management, Ahmedabad.
Mr. Ramesh Iyer
Mr. Ramesh Iyer holds a Bachelor's Degree in Commerce and has done his Master's in Business Administration. Mr. Iyer has been the Managing Director of the company with effect from 30th April, 2001 and is associated with the company since its inception. Mr. Iyer has vast experience in matters relating to business development, finance and marketing. He is also a member of the Group Executive Board of Mahindra & Mahindra Limited, the holding company, and is on the Board of various Mahindra Group Companies.
Mr. Iyer is a member of the Banking & Finance Committee of the Bombay Chamber of Commerce and Industry, the core committee of Finance Industry Development Council (FIDC) and the Task Force of NBFCs of Federation of Indian Chambers of Commerce and Industry (FICCI). He is also the Co-Chairman of the Group on Finance & Leasing and Insurance of the Council of Economic Affairs set up by Society of Indian Automobile Manufacturers (SIAM).
Mr. V. Ravi
Mr. V. Ravi has been associated with the company since its inception. Mr. Ravi is also on the Board of other Mahindra Group Companies like Mahindra Rural Housing Finance Company Ltd., Mahindra Business and Consulting Services Private Limited and Mahindra Finance USA LLC.
Mr. Ravi has served with Mahindra Ugine Steel Company (MUSCO) for 9 years in Treasury, Finance and Diversification Projects prior to his induction in Mahindra & Mahindra Financial Services Limited.
Mr. Ravi is a member of the FICCI Committee on Corporate Finance. He has also been a member of the Asia Council of the Conference Board, USA, and the Informal Advisory Group of the Reserve Bank of India.
Mr. Vinay Deshpande
Mr. Deshpande is a qualified HR professional from Symbiosis Institute of Business Management, Pune, where he completed his MBA. He brings to the table 29 years of experience and is versatile on all aspects of HR.
Earlier in his career, he was associated with Indian blue chip as well as multinational companies like ACC, L&T, Reliance, VIP industries, Hoechst India, and Bayer India.
He is a member of Society for Human Resource Management (SHRM) and American Society for Training & Development (ASTD) and National HRD network. He also is a director on the board of Mahindra Business Consulting Services Pvt. Ltd., Mindcrest India Pvt. Ltd. & Mahindra BPO Services Pvt. Ltd.
Mr. R. Balaji
Mr. Balaji is a management professional with 17 years of experience across strategy, marketing and sales. Mr. Balaji has been associated with the company since 2008 and has spearheaded various challenging projects.
Holding a Bachelor of Technology (B.Tech) degree from the Indian Institute of Technology, Madras, Mr. Balaji completed his post graduation from the Indian Institute of Management, Calcutta, specialising in Marketing and Finance.
Prior to this, Mr. Balaji was General Manager – Corporate Strategy at Mahindra and Mahindra Ltd. He has also worked with Nestle as Brand Franchise Manager and Agro Tech Foods as Senior Brand Manager.
Mr. Anuj Mehra
Mr. Anuj Mehra is the Managing Director of Mahindra Rural Housing Finance Limited (MRHFL), which is in the business of housing finance loans. With a well-rounded experience across functional areas and over 16 years of experience in the Financial Services Sector, Mr. Mehra began his journey with Mahindra Rural Housing Finance Limited as the Chief Executive Officer in 2007.
Holding a B.A. Hons. (Economics) from Delhi University, Mr. Mehra completed his post-graduation from Indian Institute of Management in Ahmedabad in 1982. He began his career with Lakme Limited (in Sales and Marketing) for around 7 years before taking over as the All India Sales Manager of the Pharmaceutical division of Lakme Limited for a short while. He then made his entry into the Financial Services sector when he joined ITC Classic Finance Limited where, during his tenure with the company, he worked as Regional Manager, General Manager (West) and Assistant Vice-President. He has also worked at the 20th Century Finance Corporation as the Vice-President, and at the Centurion Bank Limited,where he successfully handled various challenging job responsibilities. He then joined Mahindra Gesco Developers Limited where he handled their Marketing portfolio.
Dr. Jaideep Devare
Dr. Jaideep Devare has been responsible for setting up, operationalising and managing the company. Dr. Devare is also a Director on the Board of Mahindra Business & Consulting Services Pvt. Ltd., a wholly-owned subsidiary of Mahindra & Mahindra Financial Services Ltd.
Dr. Devare holds a Bachelor of Engineering (B.E.) degree in Production Engineering with Honours, a Master of Management Studies (M.M.S) degree with specialisation in Finance, a Licentiate from Insurance Institute of India (L.I.I.I.), and a Doctorate of Philosophy (Ph.D) in Management with a thesis on Indian Insurance private sector Joint Ventures.
Dr. Devare joined Mahindra & Mahindra Ltd. in 1992 in Corporate Affairs, and comes with diverse experience across the various sectors of the Mahindra Group. His varied assignments include being a core team member of the Mahindra-Ford Project for setting up the joint venture with Ford Motor Company in India, Executive Associate - Office of the Managing Director of Mahindra & Mahindra Ltd., and Managing Director of Mahindra Auto Specialities Ltd., one of the first automobile companies in India to pioneer the designing and marketing of custom-made cars in India.
Mr. Rajnish Agarwal
Mr. Rajnish Agarwal is a Graduate in Science from Lucknow University and has a Master's degree in Management Studies from Mumbai University. He is also a member of Steering Committee and Director in Mahindra Business & Consulting Services Private Limited.
He has over 21 years experience in retail credit auto loans, asset risk management, rural management, business and product development, channel and relationship management along with people management.
He has pursued short term courses in General Management and Business Leadership from reputed institutes such as Indian Institute of Management – Bangalore and Indian Institute of Management – Calcutta.