At Mahindra Finance we have eight noted directors vested with the charge of general supervision, direction and management of the operations of our company.
The primary responsibility of the Board of Directors includes:
- 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
- Setting up counter-party and other prudential risk management limits
Mr. Bharat Doshi, Chairman
Mr. Bharat Doshi is a fellow member of both, the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India and has a Master's Degree in Law from the University of Bombay. He has participated in the Program for Management Development at the Harvard Business School. He was also a Fellow of the Salzburg Seminar on ‘Asian Economies: Regional and Global Relationships’ held in December 2000.
Mr. Bharat Doshi joined Mahindra & Mahindra Limited (M&M) in the year 1973. He is presently designated as Executive Director and Group Chief Financial Officer (Group CFO), M&M. He is also Chairman of Mahindra Intertrade Limited and Director of several companies in the Mahindra Group. He is an independent Director of Godrej Consumer Products Limited and NSE.IT.
Mr. Doshi has been actively involved with the work of Chambers of Commerce and Industry in India and has been a member of various Expert Committees which influence economic and business policies of the Government. 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.
Mr. Doshi is 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 a member of the SEBI (Securities and Exchange Board of India) Committee on Disclosures and Accounting Standards (SCODA).
Mr. Doshi has been associated with the Bombay Chamber of Commerce & Industry for the last 30 years and served as its President for the year 2009-10.
Mr. Bharat Doshi was adjudged 'India's Best CFO'’ by the leading business fortnightly 'Business Today' (India Today Group Publication) in April 2005. He was also conferred the 'CFO of the Year' Award, honouring financial excellence, instituted by IMA India, an associate of The Economist Group, in December 2005. In November 2007, Bharat Doshi was honoured with the prestigious CNBC CFO of the Year 2007 award. Mr. Doshi has been 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.
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Mr. U. Y. Phadke, Principal Advisor (Finance)
Mr. Phadke has been with Mahindra since 1973. He holds Bachelor's Degree in Commerce and law from Mumbai University. He is a member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. He was President – Finance, Legal & Financial Services Sector and Member of the Group Executive Board at Mahindra & Mahindra Ltd.
He is on the Board of various Mahindra Group companies such as Mahindra & Mahindra Financial Services Limited, Mahindra Holidays & Resorts India Ltd., & Mahindra Lifespace Developers Ltd.
He is a member of the SEBI Committee on Disclosures and Accounting Standards, CII National Committee on Accounting Standards & The National group of Accounting Standards Board of Institute of Chartered Accountants of India (ICAI). He is also a Governing Council member of the Association for Finance Professionals in India.
Mr. Phadke was a Member of Advisory Committee on Accounting Standards constituted under the Companies Act. He has been Chairman of the Direct Taxes Committee of the Bombay Chamber of Commerce and Industry and was on the Accounting Standards board of the ICAI.
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Mr. Ramesh Iyer, Managing Director
Mr. Ramesh Iyer holds a Bachelors Degree in Commerce and has done his Masters in Business Administration. Mr. Ramesh 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. Mr. Ramesh Iyer 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. Ramesh Iyer has been conferred with the following awards:
(i) Indian Achievers Award for Corporate Leadership by Indian Achievers Forum.
(ii) Business Leadership Award by the Institute of Economic Studies, New Delhi.
(iii) CEO with HR Orientation Award by Employer Branding Institute, CMO Asia with their Strategic Partner CMO Council.
(iv) Udyog Rattan Award by the Institute of Economic Studies, New Delhi.
(v) Rashtriya Udyog Pratibha Award by the Council for Economic Growth & Research, Pune.
(vi) Bhartiya Udyog Ratna Award by the National Education & Human Resource Development Organisation, Bombay.
Mr. Ramesh Iyer has featured in Business World's special report on India’s Most 'Value'able CEOs. Mr. Iyer is ranked at No. 5 out of 65 in the Mid-Sized Companies (Revenues : Rs. 1,000 – 3,000 crore) category and at No. 6 out of 65 in the same category based on One-Year Performance. He is also ranked at No. 20 out of 100 based on the Company's Five Year Performance and at No. 3 out of 12 based on Ranking by Sector in the Financial Sector.
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Mr. Dhananjay Mungale, Independent Director
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 the Mumbai University. He has spent a major part of his career in corporate and investment banking in India and Europe. He was a 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 board 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.
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Dr. Pawan Kumar Goenka, Director
Dr. Pawan Goenka has earned his Bachelor's degree in Mechanical Engineering from the Indian Institute of Technology, Kanpur and Ph.D. from Cornell University, United States. He is also a graduate of Advanced Management Program from Harvard Business School. He worked for General Motors R&D Centre in Detroit, Michigan, United States from 1979 to 1993. Thereafter he joined M&M as General Manager, Research and Development (“R&D”). During his tenure, he led the development of the Scorpio sports utility vehicle. He was appointed as the Chief Operating Officer (Automotive Sector) in April 2003, President (Automotive Sector) in September 2005, and President (Automotive and Farm Equipment Sectors) with effect from April 2010.
Dr. Goenka received the outstanding ‘International Advisor’ award from Society of Automotive Engineers (“SAE”) in 1997; the Charles L. McCuen Achievement Award for the years 1991 and 1995 from General Motors; the Burt L. Newkirk Award for the year 1987; the ‘Extraordinary Accomplishment’ award from General Motors in 1986; and the ‘Distinguished Alumni’ award from the Indian Institute of Technology, Kanpur in 2004. He is a Fellow of SAE International, and of Indian National Academy of Engineers. Dr. Goenka in the past has been a President of Society of Automotive Engineers, India and of the Automotive Research Association of India, Governing Council. He is currently the President of SIAM. Dr. Geonka is on the board of several Mahindra group companies.
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Mr. M. G. Bhide, Independent Director
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. Presently, he is a Member of the Executive Committee - Currency Derivatives Segment, NSE. He is on the board of J. P. Morgan Securities India Private Limited, Mahindra Shubhlabh Services Limited, India First Life Insurance Company Limited and Talwalkars Better Value Fitness Limited.
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Mr. Piyush Mankad, Independent Director
Mr. Piyush G. Mankad pursued his college in Delhi, and earned a Bachelor’s and Master's Degrees in Humanities from Delhi University. He later completed a Diploma in development studies from Cambridge University, United Kingdom. He joined the prestigious Indian Administrative Service in 1964. His major official postings 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) and Executive Director for India, Bhutan, Bangladesh, Laos and Tajikistan and Board Member, Asian Development Bank, Manila (2001-04).
He is presently on the Board of Directors of several highly regarded Companies in the private sector as Independent Director and is also on 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.
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Mrs. Rama Bijapurkar, Independent Director
Ms. Rama Bijapurkar holds a Bachelor’s degree in Science (Hons.) and obtained a degree in Physics from Miranda House, University of Delhi and obtained the post graduate diploma in management from the Indian Institute of Management, Ahmedabad. She is an independent market strategy consultant and also a visiting faculty and an active member of Board of Governors of the Indian Institute of Management, Ahmedabad. She 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
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