Mr. Ajay Mahajan is the Managing Director & CEO of our company. He is a widely experienced financial services expert with 30 years in banking and capital market businesses. He worked in organizations like Bank of America where he started his career in 1990 and went on to become MD & Country Head of Global Markets Group. Here he also led the initiative of building the first 100% foreign owned NBFC in the country to do primary dealership and credit fixed income. Thereafter, Ajay joined YES BANK in a top management role to build out multiple functions like Financial Markets, Investment Management, Financial Institutions and International Banking. Ajay moved thereafter to UBS in 2008 to build their India franchise from scratch, another deeply entrepreneurial role. In three years of joining UBS had most credit, Financial Markets, Debt Capital Markets and Retail Products in India. Ajay's last assignment was a 7 year long stint in IDFC Group which he joined in 2013 to play a hugely transformative role to lead the conversion of their Infrastructure financing business to a multi-product, multi-segment wholesale banking business comprising Corporate Credit, SME Credit, Financial Markets, Government Banking, Financial Institutions and International Banking. Besides, this role required building teams, systems, processes and cutting-edge technologies to support the wholesale bank’s growth. Ajay was one of the founding members of FIMMDA, the financial markets SRO in India and headed product development committee and several other initiatives for market development. He also held the Vice Chairman role at FIMMDA. While at this role, he was also entrusted with heading a sub committee, a part of Jaspal Bindra Committee constituted in 2001, under the aegis of RBI to work on development of the financial markets and derivatives markets in India. Ajay holds a Bachelor of Engineering in Electrical & Electronics Engineering from BITS Pilani, and an MBA from FMS (where he was a Gold medalist) and is also CFA Charter holder from CFA Institute, USA.

Mr. T.N. Arun Kumar is the Executive Director & Chief Ratings Officer at CARE Ratings Ltd. He has over 28 years of rich experience in credit rating and project appraisal and extensive knowledge about functioning of the corporate sector. After having worked for over 5 years in a Development Financial Institution, he joined CARE Ratings in December 1994. He was the Head of Ratings at CARE Ratings and has been instrumental in putting in place quality systems and sound rating processes during the period of rapid growth by CARE Ratings. He has a post-graduate degree in Management from Indian Institute of Management (IIM), Ahmedabad and a graduate in Agricultural Engineering from Indian Institute of Technology (IIT) , Kharagpur. He also is a CFA Charterholder from the CFA Institute, USA and holds FRM certification awarded by GARP, USA.

Mr. Mehul Pandya is the Executive Director at CARE Ratings Ltd. As the Head of CARE Ratings business in India and abroad, he is responsible for providing tactical impetus to CARE’s rating operations. He has successfully incubated and nurtured CARE’s business outside India as well. He is also a member of the Board of Directors of all subsidiaries of CARE Ratings. He is a technocrat with management background and also a CFA charterholder from CFA Institute, USA. Having joined CARE Ratings in the year 2000, he has more than 20 years of experience in the rating industry. Prior to joining CARE Ratings, he worked with a state level financial institution in the State of Gujarat in India for about four years and was instrumental in establishing an in-house credit rating cell for the screening of lending proposals. As such, he has a domain experience of nearly 25 years. He has worked as a Consultant for the Asian Development Bank (ADB) for a Country Study in 2010. He has also conducted various training programmes pertaining to Credit Risk Analysis in India as well as abroad.

Executive Director & Company Secretary

Ms. Revati Kasture is Senior Director at CARE Ratings Ltd. and has a total work experience of 23 years. Currently heading the Criteria and Quality Control team at CARE Ratings responsible for strengthening methodologies as well as processes as also enhancing objectivity in ratings. In the past she has handled the research wing of CARE called CARE Research as also credit rating across large and mid-corporates, structured credits and financial sector ratings. She took the initiative to create and implement central data infrastructure at CARE Ratings with digitization of workflow. Revati is an all India merit rank holder Chartered Accountant and Cost Accountant and has been honored with Professional Achiever- Woman award by the Institute of Chartered Accountants of India in December 2011. She has also been awarded as one of India’s top 100 “Women In Finance” in Leading Category in March 2019. Teaching is her passion and she is also on the Advisory Board of Symbiosis Institute of Banking and Finance, Pune

Mr. Madan Sabnavis is Chief Economist & Senior Director at CARE Ratings Ltd. He is a post graduate in Economics from Delhi School of Economics and graduated from St Stephen’s College in Economics (Honours). He has been a corporate Economist since 1987 and has worked in the fields of development banking, commercial banking, engineering, and commodity markets before joining CARE Ratings. He has multiple interests in human behavior, politics and social systems besides Economics. While he is fond of reading, the canvas extends from fiction and humor to economics, philosophy, poetry and plays. Some of his favorite authors include Ayn Rand, Oscar Wilde, Graham Greene, William Shakespeare, P.G. Wodehouse and Antony Jay and Jonathan Lynn. His appreciation for music varies from Bachs’s concertos and Mozart’s symphonies to classic rock and Hindustani classical ragas. He does write on various subjects in Economics, and some of the pieces may be found on his blogspot, www.madansabnavis.blogspot.com.

Mr. A Shiju Rawther is the Chief Information & Technology Officer at CARE Ratings Limited. Shiju is a technology leader with strong business acumen with two decades of vast experience in major operating tenets of driving digital transformation through thought leadership, innovation, analytics & delivering value to stakeholders. Shiju is currently spear heading Group IT function, Technology strategies, enterprise-wide Technology transformation and designing the digital roadmap for at CARE Ratings Limited and its subsidiary business functions. Shiju comes with a successful and steady career growth in reputed organizations viz., Poonawalla Finance, IIFL Finance Limited, TransUnion CIBIL Limited, Fullerton India Credit Company Limited, PCS Technology Limited, Gateway Terminals India, Wipro InfoTech and Primus Telecommunications India Limited. Some of his key achievements in previous stints include setting up of the complete Technology landscape comprising of IT Applications, IT Infrastructure, Building Information Security operations and process automations from the scratch for two start-up MNC business units in India. He is a prominent speaker at many industry conferences. Shiju has been recognized as one of the Most Innovative CIO’s of India, Top 100 CISO’s consistently over last years by various media groups & forums. Shiju holds a Bachelor of Engineering Degree in Computer Science & Engineering from Bangalore University and Masters in Information Management from Mumbai University.

Mr. Sandeep Palodkar is the Head of Human Resource at CARE Ratings Limited. He hold Master Degree in Human Resources and has over 25 years of experience across industries spanning Manufacturing, ITES and Financial Services Sectors. He has worked with diversified business and workforce in various capacities with a focus on operational and strategic HR. Prior to joining CARE, he was associated with Tata Capital Financial Services, WNS Global Services and Videocon Industries limited. He has been associated with CARE from April 2019.

Mr. Umesh Ikhe is the Chief Executive Officer at CARE Risk Solutions Pvt. Ltd (CRSPL) a wholly owned subsidiary of CARE Ratings Ltd. Umesh is a passionate leader with a long track record of building high performance businesses and teams. He has 25+ years of widespread experience in Techno-Functional leadership roles. His expertise entail collaborative cross-functional business, people and complex stakeholder management in the technology domain; Crafting Brand, Marketing and Sales strategy; Building strategic alliances; Deliver solutions for Treasury and Capital Market, Enterprise Risk Management, Financial Compliance, Payments Applications and Transaction Banking; Program management and complex project management and Setting up and managing boutique technology firms

Mr. Sudip Sural is the Chief Executive Officer of CARE Advisory Research and Training Limited (CART), a wholly owned subsidiary of CARE Ratings Ltd. He is an infrastructure and credit risk specialist with more than 25 years of experience in credit ratings, infrastructure finance and corporate financial risk assessment. Sudip’s areas of expertise include corporate and infrastructure credit assessments, structured finance including credit enhancement mechanisms, public private partnerships in infrastructure development, institution strengthening and capacity development. He has worked with clients like the Asian Development Bank, World Bank, Large Indian Corporates, Financial Institutions and Governments in India and South East Asia. Sudip holds a B.Sc.(Hons) in Mathematics in Delhi University and an MBA from BIM Trichy.