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Mahindra Finance is led by an ensemble of highly motivated visionaries who bring years of experience and expertise to the table. They guide, inspire and propel us to push the boundaries and move towards our collective vision of empowering every life with resources to put their ambitions on the map.

 

  • Board of Directors
  • Steering Committee

The board consists of eight 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:

  • Overseeing high standards of corporate governance and compliance with various laws
  • Overseeing our financial management and approving various lines of business
  • Shaping our policies and procedures
  • Monitoring our performance and evolving the growth strategy
  • Setting up counter-party and other prudential risk management limits

The Board of Directors:

  • Bharat Doshi

    Mr. Bharat N. Doshi
    Chairman

  • Uday Phadke

    Mr. Uday Y. Phadke
    Director

  • Pawan Goenka

    Dr. Pawan Kumar Goenka
    Director

  • Ramesh Iyer

    Mr. Ramesh Iyer
    Managing Director

  • Dhananjay Mungale

    Mr. Dhananjay Mungale
    Independent Director

  • M G Bhide

    Mr. M. G. Bhide
    Independent Director

  • Piyush Mankad

    Mr. Piyush Mankad
    Independent Director

  • Rama Bijapurkar

    Mrs. Rama Bijapurkar
    Independent Director

  • Designation

Mr. Bharat Doshi, Chairman

Mr. Bharat Doshi is the Chairman of the company.

Mr. Doshi joined Mahindra & Mahindra Limited as an Executive in 1973 and was elevated to the Board of the Company as Executive Director in 1992. In November 2013, he transited from his position as Executive Director & Group CFO to Non-Executive Director.

Mr. Doshi is also the Chairman of Mahindra Intertrade Limited and Director of some of the companies in the Mahindra Group. Mr. Doshi is an Independent Director of Godrej Consumer Products Limited and NSE.IT.

Mr. Doshi is also on the Board of Governors of Indian Institute of Management, Tiruchirappalli (Trichy) and the Mahindra United World College of India, as well as a Trustee of K.C. Mahindra Education Trust and the Mahindra Foundation. He is a Director on the Board of Indian Council on Global Relations.

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 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 is currently a Member of the RBI constituted Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (CCFS).

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). He is currently a Member of CII National Council on Corporate Governance & Regulatory Affairs.

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. Uday Y. Phadke, Director

Uday PhadkeMr. 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.

Dr. Pawan Kumar Goenka

Pawan GoenkaDr. Pawan Goenka has earned his BS in Mechanical Engineering from I.I.T. Kanpur and Ph.D. from Cornell University, U.S.A. He is also a Graduate of Advanced Management Program from HBS. He worked at General Motors R&D Centre in Detroit, U.S.A. from 1979 to 1993. Thereafter he joined Mahindra & Mahindra Ltd., as General Manager (R&D). During his R&D tenure he led the development of the Scorpio SUV. He was appointed COO (Automotive Sector) in April 2003, President (Automotive Sector) in September 2005, President (Automotive & Farm Equipment Sectors) in April 2010, and Executive Director and President (Automotive & Farm Equipment Sectors) in September 2013.

Dr. Goenka received the Extraordinary Accomplishment Award from General Motors in 1986, Burt L. Newkirk Award for the year 1987, Charles L. McCuen Achievement Award from General Motors for the years 1985 & 1991, Outstanding International Advisor Award from SAE in 1997, Distinguished Alumni Award from I.I.T. Kanpur in 2004. He received the Engineering Excellence Award 2012 from SAE India Foundation. He is a Fellow of SAE International, and of Indian National Academy of Engineers.

In Jan 2011, Dr. Pawan Goenka was honoured with the Automotive Man of the Year award, at the NDTV Car & Bike Awards. In December 2011, Dr. Goenka was featured as Autocar Professional's Man of the Year 2011. He was conferred the 'CV Man of the Year' award at the annual Apollo CV Awards 2012 in recognition of his extensive contribution within the automotive industry in India and globally.

Dr. Goenka is past President of SIAM, Society of Automotive Engineers India, and ARAI Governing Council, and is currently on the Board of National Skills Development Corporation (NSDC).

Mr. Ramesh Iyer

Ramesh IyerMr. 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

Dhananjay MungaleMr. 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

M G BhideMr. 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. Presently, he is a Member of the Executive Committee - Currency Derivatives Segment, NSE. 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

Piyush MankadMr. 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

Rama BijapurkarMs. 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. Ramesh Iyer

Ramesh IyerMr. 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

RaviMr. 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

VinayMr. 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

R BalajiMr. 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

AnujMr. 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

JaideepDr. 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

Rajneesh AMr. 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.

  • Ramesh Iyer

    Mr. Ramesh Iyer

    Managing Director

  • Ravi

    Mr. V. Ravi

    Chief Financial Officer

  • Vinay

    Mr. Vinay Deshpande

    Chief People Officer

  • R Balaji

    Mr. R. Balaji

    Vice President - Marketing & Strategy

  • Anuj

    Mr. Anuj Mehra

    CEO, MRHFL

  • Jaideep

    Dr. Jaideep Devare

    Managing Director, MIBL

  • Rajneesh A

    Mr. Rajnish Agarwal

    Vice President - Operations

© 2013 Mahindra Finance

CIN - L65921MH1991PLC059642

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