Board Of Directors

Mr. P. K. Choudhury

Mr. Pranab Kumar Choudhury is the Chairman of ICRA Limited & Chief Executive Officer of the Group ICRA. He is also Chairman of ICRA Online Limited, ICRA Lanka Limited, ICRA Nepal Limited, Peerless Financial Services Limited, President Commissioner of PT ICRA Indonesia and a Director on the Boards of ICRA Management Consulting Services Limited, ICRA Techno Analytics Limited, BPA Technologies Inc. and ICRA Sapphire Inc. Besides, he is a Director on the Boards of Peerless Securities Limited and The Peerless General Finance & Investment Company Limited. Mr. Choudhury holds a Bachelor's and a Master's Degree in Commerce from the University of Calcutta. He is a Chartered Accountant from The Institute of Chartered Accountants of India and also holds a Post-Graduate Diploma in Advanced Financial Management from the Maastricht School of Management, The Netherlands. Besides, Mr. Choudhury is a C.A.I.B. from The Institute of Bankers, London, and a C.A.I.I.B. from the Indian Institute of Bankers. With a professional experience of over 40 years now, Mr. Choudhury has, prior to joining ICRA, worked in the manufacturing industry, commercial banking, development banking, and merchant banking sectors.

Mr. Pranab Kumar Choudhury is on the Board of Directors of the following organisations:

• ICRA Limited
• ICRA Online Limited
• ICRA Management Consulting Services Limited
• ICRA Techno Analytics Limited
• Peerless Securities Limited
• ICRA Sapphire Inc.
• PT. ICRA Indonesia
• The Peerless General Finance & Investment Company Limited
• ICRA Lanka Limited
• ICRA Nepal Limited
• BPA Technologies, Inc., U.S.A.
• Peerless Financial Services Limited

Dr. Uddesh Kohli

Dr. Uddesh Kohli is an Independent Director of ICRA. He is an Engineer from the Indian Institute of Technology, Roorkee and holds a Post-Graduate Diploma in Industrial Administration from the Manchester University, UK. He obtained his Ph.D. in Economics from the Delhi School of Economics. Dr. Kohli has been Chairman and Managing Director of Power Finance Corporation Limited, and has worked with the Planning Commission, Government of India, reaching the position of Advisor (Additional Secretary level). He has carried out international assignments for Asian Development Bank, United Nations Industrial Development Organization, United Nations Development Programme and United Nations Office for Project Services. He is at present a Director on the Boards of ALSTOM Projects India Limited, Lanco Infratech Limited, PTC India Financial Services Limited and RK Wind Limited. Dr. Kohli’s areas of expertise include development planning, finance, project formulation, appraisal, sustainability and monitoring, power/energy planning, Corporate Social Responsibility training and human resource development.

Dr. Uddesh Kohli is on the Board of Directors of the following organisations:

• ICRA Limited
• ALSTOM India Limited
• Lanco Infratech Limited
• PTC India Financial Services Limited
• Powerwind Limited
• National Energy Trading and Services Limited
• ICRA Techno Analytics Limited

Professor Deepak Nayyar

Professor Deepak Nayyar, an eminent economist, is an Independent Director of ICRA. He is Professor of Economics at Jawaharlal Nehru University, New Delhi. Earlier, he has taught at the University of Oxford, the University of Sussex, the Indian Institute of Management, Calcutta and the New School for Social Research, New York. Professor Nayyar was Vice Chancellor of the University of Delhi from 2000 to 2005. He also served as Chief Economic Adviser to the Government of India and Secretary in the Ministry of Finance. In the past, he was a Director on the Boards of State Trading Corporation of India, the State Bank of India, Export-Import Bank of India, Maruti Udyog. At present, he is on the Boards of Birla Corporation Limited and Oil & Natural Gas Corporation Limited. He was educated at St. Stephen's College, University of Delhi. Thereafter, as a Rhodes Scholar, he went on to study at Balliol College, University of Oxford, where he obtained a B. Phil and a D. Phil in Economics. He has received the V.K.R.V. Rao Award for his contribution to research in Economics. He is an Honorary Fellow of Balliol College, Oxford. Professor Nayyar served as Chairman of the Board of Governors of the UNU World Institute for Development Economics Research, Helsinki, a Member of the Board of Directors of the Social Science Research Council in the United States, and Chairman of the Advisory Council for the Department of International Development, Queen Elizabeth House, University of Oxford. He also served as a member of the National Knowledge Commission in India and Vice President of the International Association of Universities, Paris.

Prof. Deepak Nayyar is on the Board of Directors of the following organisation:

• ICRA Limited
• Birla Corporation Limited
• Oil & Natural Gas Corporation Limited

Mr. P. G. Mankad

Mr. Piyush Gunwantrai Mankad, an Independent Director of ICRA, is a retired civil servant with a distinguished career of over 40 years in the prestigious Indian Administrative Service, which he joined in 1964, topping his batch. He was educated at Delhi University, India, and later at Cambridge, U.K., where he obtained a post-graduate Diploma in Development Studies, with distinction. Some of the important positions that he held include Counselor (Economic) in the Indian Embassy, Tokyo; Controller of Capital Issues, Ministry of Finance; Finance Secretary, Government of India; and Executive Director for India and four other countries and Board Member, Asian Development Bank, Manila, which was his last assignment till July 2004. His areas of experience and expertise include, among others, public finance and policy; capital market regulation and development; promotion of industry, foreign direct investment and infrastructure; and public administration.

Mr. Piyush Gunwantrai Mankad is on the Board of Directors of the following organisations:

• Tata South East Asia Ltd.
• ICRA Limited
• Tata International Limited
• Tata Elxsi Limited
• DSP Blackrock Investment Managers Pvt. Limited
• Noida Toll Bridge Company Limited
• HeidelbergCement India Limited
• Tata Power Company Limited
• Mahindra & Mahindra Financial Services Limited
• Hindustan Media Ventures Limited

Mr. Amal Ganguli

Mr. Amal Ganguli is an Independent Director of ICRA. He is a Fellow of the Institute of Chartered Accountants in England & Wales as well as The Institute of Chartered Accountants of India. He did his training in London, and worked there with Peat Marwick Mitchell & Co. Mr. Ganguli joined Price Waterhouse in India in 1964, became a Partner of the firm in 1969 and from 1996 till the time of his retirement, was the Chairman and Senior Partner of PricewaterhouseCoopers in India. He has been a member of several study groups of The Institute of Chartered Accountants of India and has also worked as an independent short-term consultant to the World Bank after his retirement. Mr. Ganguli is on the Boards of a number of companies including HCL Technologies Limited, New Delhi Television Limited, Century Textiles and Industries Limited, AVTEC Limited, Maruti Suzuki India Limited and Tata Communications Limited.

Mr. Amal Ganguli is on the Board of Directors of the following organisations:

• ICRA Limited
• ML Infomap Private Limited
• HCL Technologies Limited
• New Delhi Television Limited
• Century Textiles and Industries Limited
• AVTEC Limited
• Hughes Communications India Limited
• Maruti Suzuki India Limited
• Tata Communications Limited
• Aricent Technologies (Holdings) Limited
• Laurus Labs Private Limited
• Tata Teleservices (Maharashtra) Limited
• Triveni Turbine Limited
• Member of the Governing Body, Thought Arbitrage Research Institute
• Partner, Veritas Advisors LLP
• Honorary and Non Executive President, HelpAge India, A Registered Charity
• Member, Board of Governors, Welham Girls' School
• Mangalam Cement Ltd.

Dr. Min Ye

Dr. Min Ye is an Additional Director of ICRA. He is the Managing Director and the Regional Head of Moody’s Asia Pacific. He is responsible for formulating business growth initiatives, budgeting and planning, managing Moody’s offices and affiliate relations, and monitoring the regulatory environment in the Asia Pacific region. Earlier, he was the Managing Director and the Country Manager for Moody’s China, as well as the Chief Executive Officer of China Chengxin International Credit Rating Co. Ltd., a Moody’s affiliate in China. Dr. Min Ye, who joined Moody’s as a Senior Analyst and Vice President in 1994, has also worked as the Managing Director of the Structured Finance Group for Asia Pacific (ex-Japan) in Hong Kong.

Dr. Min Ye has a BE and an ME in Electrical Engineering from the Tsinghua University in Beijing. He also has a Ph.D. in Electrical and Computer Engineering from the Carnegie Mellon University, USA.

Dr. Min Ye is on the Board of Directors of the following organisations:

• ICRA Limited
• Moody’s Group Australia Pty Limited
• Moody’s Investors Service Pty Limited
• Moody’s China (B.V.I.) Limited
• Moody’s Asia Pacific Limited
• Moody’s Company Hong Kong Limited
• Moody’s Investors Service Hong Kong Limited
• Moody’s (Japan) K.K.
• Moody’s SF Japan K.K.
• Korea Investors Service Inc.
• Moody’s Investors Service (Korea) Inc.
• China Cheng Xin International Credit Rating Co., Limited
• Moody’s Investors Service (Beijing), Limited
• Moody’s Singapore Pte Limited
• Moody’s Investment Company India Private Limited
• Moody’s Shared Services India Private Limited
• Asia Securities Industry and Financial Markets Association Limited

Mr. Simon Richard Hastilow

Mr. Hastilow is an Additional Director of ICRA. He is a Managing Director and Global Head of Relationship Management at Moody’s Investors Service. He is responsible for leading the global team that grows Moody’s coverage share and revenue by developing relationships with new issuers in existing markets, penetrating new markets, and strengthening and expanding relationships with existing issuers and intermediaries. Prior to joining Moody’s, Mr. Hastilow spent 11 years at Thomson Reuters where he led marketing and sales teams in the corporate and wealth management sectors.

Mr. Hastilow obtained his BA (Hons) in Business Studies from the University of London, and holds the Diploma of the Chartered Institute of Marketing. He is an alumnus of the 2007 AMP Programme at INSEAD.

Mr. Simon Richard Hastilow is on the Board of Directors of the following organisation:

• ICRA Limited

Mr. Naresh Takkar

Mr. Naresh Takkar is the Managing Director & CEO of ICRA. Prior to holding this position he was Joint Managing Director & Chief Rating Officer of ICRA. He is also a Director of ICRA Techno Analytics Limited, ICRA Online Limited, ICRA Nepal Limited and of ICRA Lanka Limited. Besides, he is the Vice-Chairman of Association of Credit Rating Agencies in Asia (ACRAA). He joined ICRA as an analyst in 1991. Before joining ICRA, he was with Tata Consultancy Services for three years in the System Consulting Division. Mr. Takkar is a Chartered Accountant from The Institute of Chartered Accountants of India and holds a Bachelor’s Degree in Commerce from the University of Delhi.

Mr. Naresh Takkar is on the Board of Directors of the following organisations:

• ICRA Limited
• ICRA Techno Analytics Limited
• ICRA Online Limited
• ICRA Nepal Limited
• ICRA Lanka Limited