Board of
Directors

Shri. Balkrishna V. Chaubal retired as Deputy Managing Director of State Bank of India, after serving for more than 38 years with the bank. As Deputy Managing Director he was overall in-charge of global markets' operations involving bank's investments and forex. His role inter alia included formulation of policy as well as strategy, ensuring regulatory compliance like maintenance of CRR/SLR, managing liquidity through money market operations and contributing to investment decisions, Asset Liability Management and Market Risk Management. Shri. Chaubal has also been a visiting professor at the National Institute of Bank Management, Pune, specializing in commercial banking, corporate governance and strategy. He holds a Bachelor's degree in Science from the Institute of Science Nagpur and Master's degree in Physics from the Indian Institute of Technology, (Powai) Mumbai. He is a Fellow of the Indian Institute of Banking & Finance.

Shri Nehal Vora is the Managing Director & Chief Executive Officer of CDSL since September 24, 2019.

CDSL under his leadership as the MD & CEO, has become the leading depository of India with over 2 crore beneficiary accounts and is the first and the only depository to launch have its Branch at the International Financial Services Centre (IFSC) at the GIFT City, Gandhinagar. In addition, he continues to implement strong systems and processes for effective governance.

Shri Vora has over 2 decades of experience. In his earlier role as the Chief Regulatory Officer of BSE Limited and the member of the Executive Leadership Team, he drove regulatory excellence through membership compliance, surveillance, inspection, investigation, regulatory communication, investor services, listing compliance and regulatory legal teams.

He began his career with Securities and Exchange Board of India (SEBI) in 1996, where, he managed various functions including the Derivatives and New Products Department, covering policy, product and process innovation in areas of derivatives. He also implemented the T+2 rolling settlement and the system of Straight through Processing for the Institutional trades for the Indian Securities Markets.

Shri Vora has also headed the Broking and Investment Banking Compliance at DSP Merrill Lynch Ltd, as the Director, Law and Compliance.

He has been felicitated with many Distinguished awards across his career such as NetApp Innovation Award 2019 for Social Media Parsing (using Artificial Intelligence), Compliance Champion award, IDC Digital Transformation Awards, Best New Product in Asia for Market Surveillance, OGC Living the Mission Award amongst many others and latest being recognised as the Distinguished Alumnus. He is a guest speaker at various international forums, conferences and is also a lecturer at the National Institute of Securities Markets (NISM). Shri Vora holds a Commerce degree from H R College, Mumbai and a Master of Management Studies degree in Finance from the Narsee Monjee Institute of Management Studies (NMIMS), University of Mumbai.

Prof. (Dr.) Bimalkumar N Patel is Vice-Chancellor of Rashtriya Raksha University, (an Institution of National Importance), Member of the National Security Advisory Board, National Security Council, Government of India, and Member-Designate of the UN International Law Commission (2023-28); Member of Financial Sector Regulatory Appointments Search Committee, Appointments Committee of the Cabinet, Government of India.

Prior to joining our Board, he has served as a member of the 21st Law Commission of India and as the Director / Professor of Public International Law at Gujarat National Law University. He holds a PhD (International Law, Leiden University, 2015); PhD (International Law, Jaipur); LLM (International Law, Leiden University, 1999), MA (International Relations, University of Amsterdam, 1996), the Netherlands.

Shri. Sidhartha Pradhan joined Indian Revenue Service in 1977 batch. He has worked in various capacities, both in Central Government and Government of Orissa. Worked as Additional Commissioner and Commissioner, Income Tax (Central), Delhi. He also worked as Secretary, Public Enterprises, Government of Orissa from 1995-2000 and as Special Secretary (Commerce), Government of Orissa. He is Former Vice- Chairman, Income Tax Settlement Commission and Former Joint Secretary and Additional Secretary, Department of Disinvestment in the Ministry of Finance from 2007-2012. He was member of high level committee of Ministry of Finance Government of India from 2014-17 on rationalizing income tax laws relating to legacy tax issues. He was also member of high level committee of Ministry of Petroleum & Natural Gas relating to sector restructuring from 2017-2020.

Shri Sidhartha Pradhan did his Senior Cambridge at Stewart School Cuttack; B.A. (Pol Science) from Ravenshaw College Cuttack; M.A. (Pol. Science) from JNU, New Delhi, M.Phil from JNU; LLB from Utkal University and MBA from University of HULL, England.

Prof. Umesh Bellur is currently a faculty at Department of Computer Science & Engineering, IIT Bombay, Mumbai.

He has completed his PhD, Department of Computer Science and Engineering from Syracuse University, Syracuse, NY USA and B.E., Electronics and Communication Engineering from Bangalore University.

Rajeshree Sabnavis, Founder of Rajeshree Sabnavis & Associates specializes in tax transfer pricing advisory and transaction tax matters and has over 27 years of experience in advising clients on their cross-border acquisitions and implementing the India business strategy for multinationals. She also advised multinationals including Fortune 500 companies in the areas of tax and transfer pricing and has assisted large Indian Companies in implementing their transfer pricing across jurisdictions in the ITES sector. She works with some of the larger portfolio investors investing in India including some of the large Institutional investors in managing their tax compliance and litigation in India.

Rajeshree is part of the Direct Taxation Committee and the Diversity and Inclusion committee with the Bombay Chamber of Commerce. A charter member of TIE, mentors a few entrepreneurs including guiding them on sustainability and growth. She also focusses on advocacy issues and has represented India business Houses and Multinationals on various tax issues before the Central Board of Direct Taxes. She is also a certified IICA Mediator. Rajeshree is a qualified Chartered Accountant and a Company Secretary.

Gurumoorthy Mahalingam has had a professional career of more than four decades spanning across the financial sector regulators, Reserve Bank of India (RBI) and Securities & Exchange Board of India (SEBI). He has taken on varied roles in RBI encompassing financial market development, regulation and operations, foreign exchange reserves management, debt management and regulation and supervision of banks. He was the Chief Dealer and Executive Director in-charge of forex market interventions as well as management of forex reserves of the country and rupee liquidity policy and operations. In the above roles, he was instrumental in formulating regulatory policies in respect of financial markets and conduct of market operations of RBI. His experience spans across most difficult and volatile times in the financial markets such as Global financial crisis, European debt crisis (2011-12) as well as the taper tantrum (2013-2016). He was closely involved in giving shape to foreign exchange policies and monetary policy implementation.

In his role as a Whole-time Board Member of SEBI ( between 2016 and 2021), which carried Executive responsibilities as well, he has had a wide experience regulating Mutual Funds, Stock exchanges, Listed companies, foreign portfolio investors, corporate governance aspects, stock and derivatives markets, corporate bond market, amongst others. He has supervised the conduct of investigations and enforcement actions in regard to violations of securities laws and regulations. He was a quasi-judicial authority for a little over 500 cases involving market misdemeanors. He is currently chairing the SEBI Advisory Committees on Secondary Markets as well as the Corporate bond market. In RBI and SEBI, he was associated with important committees in the area of forex markets, financial benchmarks, corporate bond markets, etc.

Mahalingam began his career as a commercial banker with the State Bank of India in 1978 after finishing his Masters in Statistics and Operations Research from IIT Kanpur. He is also an MBA in International Banking and Finance from the Birmingham Business School in the UK.

Shri. Masil Jeya Mohan P. joined LIC in the year 1986. He has a wide range of experience in different assignments in LIC as Asstt. Branch Manager, Manager(IT), Manager (NB & Actuarial), Manager (HR), Regional Manager (HR), Regional Manager (Estates), Fund Manager of Pension & Group Scheme Fund, Chief (ULIP Operations) and Executive Director (Investment).

Shri. Masil Jeya Mohan P. is Science Graduate with MBA Degree.

Sushri Kamala Kantharaj is a seasoned finance professional with over 33 years of experience; currently designated as the Chief Regulatory Officer at BSE Limited, where she leads Enterprise Risk Management. With a strong background in financial markets and extensive work in organizations like PFC, IIM-B, BgSE, BgSE Financials, Invest smart, NSE, and Edelweiss Group, Sushri Kamala has actively contributed to capital market reforms and policy-making. She possesses in-depth knowledge of business, legal frameworks, governance, and regulatory aspects. Her expertise includes managing complex projects in financial markets, driving digitization, and successfully navigating multiple stakeholders' interests. Exceptionally, she made history as the first woman to functionally head a Stock Exchange across Domestic and International Exchanges during her tenure as Executive Director of Bangalore Stock Exchange.

Management Team

Name Designation
Shri Nehal Vora Managing Director & Chief Executive Officer
Shri Amit Mahajan Chief Technology Officer
Smt Nayana Ovalekar Chief Regulatory Officer
Shri Girish Amesara Chief Financial Officer
Shri Rajesh Saraf Chief Data and Operations Officer
Shri. Vinay Madan Chief Risk Officer

Page last updated on May 17, 2023    Dept:Legal, HR