Board of Directors
Naina Krishna Murthy
Ms. Naina Krishna Murthy is the Chairperson and a Non-Executive Independent Director of IndoStar Capital Finance Limited. She has more than two decades of experience in the legal sector. She is the Founder and Managing Partner of Krishnamurthy & Company. She is also a trusted legal advisor to numerous corporations. Over the years, Ms. Murthy has built a strong reputation in corporate commercial law, specifically in the areas of mergers and acquisitions, joint ventures, collaborations and PE/VC investments. She was recognised by India Business Law Journal as ‘A List’ of India’s top 100 lawyers in 2018, 2017 and 2016. She holds a degree in Law, with a B.A. and LLB (Hons) from National Law School, Bangalore.
Bobby Parikh
Mr. Bobby Parikh is the Non-Executive Non-Independent Director of IndoStar Capital Finance Limited. He has nearly three decades of experience in financial services industry/reorganisations. Mr. Parikh’s area of focus is providing tax and regulatory advice in relation to transactions and other forms of business reorganizations. He has founded Bobby Parikh Associates, a boutique firm focused on providing strategic tax and regulatory advisory services. Mr. Parikh is a qualified Chartered Accountant from the Institute of Chartered Accountants of India and holds a Bachelor of Commerce degree from the University of Mumbai.
Hemant Kaul
Mr. Hemant Kaul is a Non-Executive Independent Director of IndoStar Capital Finance Limited. He has vast experience as an independent management consultant, having worked with private equity firms to evaluate investments in the financial sector. Earlier, Mr. Kaul has also been the MD & CEO of Bajaj Allianz General Insurance Co Ltd. and the Executive Director of Axis Bank. Mr. Kaul holds a Bachelor’s degree in Science and a Master’s degree in Business Administration from Rajasthan University.
Sujatha Mohan
Ms. Sujatha Mohan is a Non-Executive Independent Director of IndoStar Capital Finance Limited. Ms. Sujatha Mohan has over 30 years of experience across the Banking and IT industries. Ms. Mohan, a Wharton Alumnus, is the founder of Pharus Consulting LLP, a firm that supports organizations in the BFSI sector by offering a practitioner’s view of digital, business and execution strategies. She has been recognized for leading strategic and transformative initiatives across different organizations. Prior to this, Ms. Mohan was associated with HDFC Bank Limited, FIS Global, RBL Bank Limited, Oracle Financial Software Services Ltd, ANZ Grindlays Bank and Stock Holding Corporation of India Limited where she held various leadership roles. Her areas of specialization include core banking, core modernization, API Strategy, Digital Transformation & Payments. Over her 30-year career, she has received numerous awards/recognitions including the Asian Banker Award (twice) for 2 projects executed under her leadership. She was also the recipient of the Payments Award by the Indian Banking Association for projects executed under her mentorship and the Women in Fintech Award in 2019 by Fintegrate Zone.
Aditya Joshi
Mr. Aditya Joshi is a Non-Executive Non-Independent Director of IndoStar Capital Finance Limited. He is also a Managing Partner in Brookfield's Private Equity Group and heads the private equity business for Brookfield India and the Middle-East. Mr. Joshi has conceptualised Brookfield's private equity strategy for the India and Middle-East region, including nurturing and developing a high quality team, building a robust sourcing engine, leading deal-execution and ongoing portfolio monitoring. Mr. Joshi joined Brookfield in March 2019. Prior to Brookfield, he was a Principal at Apax Partners in India, and led and participated in deals across healthcare, technology services, and financial services. Prior to Apax, he worked at The Blackstone Group in India, where he focused on investment opportunities primarily across technology services and business services. Prior to Blackstone, Mr. Joshi worked at Morgan Stanley in India, where he worked on fund raising and mergers and acquisitions across technology services, business services, telecom, amongst other industries. Mr. Joshi holds a Master of Business Administration degree from The Wharton School, University of Pennsylvania, a bachelor’s degree in accounting and finance from the University of Pune, and is a Chartered Accountant and member of The Institute of Chartered Accountants of India. Mr. Joshi is a member of FICCI’s National Committee on Private Equity for India.
Vishal Goenka
Mr. Vishal Goenka is a Non–Executive Non-Independent Director of IndoStar Capital Finance Limited. He is a Managing Director at Everstone Capital, focusing on investments in industrials and financial services businesses. Based in Mumbai and has over 15 years of investing and banking experience across sectors. Previously, he has worked with Warburg Pincus in their India business and J.P. Morgan in their IB business. He holds a post-graduate degree in management from IIM Indore (Institute Gold Medalist) and an engineering degree from University of Mumbai. He holds MBA from Symbiosis Institute of Business Management and Bachelor of Management Studies degree from the University of Mumbai.
Devdutt Marathe
Mr. Devdutt Marathe is a Non-Executive Non-Independent Director of IndoStar Capital Finance Limited. He is an investment professional with over thirteen years of experience in the Private Equity space. He is currently a Senior VP at Brookfield Asset Management focused on the Private Equity business in the India / Middle East region. Previously, Devdutt Marathe was a Principal at Apax Partners, where he led or participated in several transactions across financial services, healthcare and technology sectors. Devdutt Marathe holds B.Tech. and MS degrees in Electrical Engineering from IIT Madras and Caltech (USA) respectively, and a PGDM from IIM Ahmedabad.
Randhir Singh
Mr. Randhir Singh serves as the Managing Director and Executive Vice Chairman of IndoStar Capital Finance Ltd., bringing over 30 years of global financial leadership across MSME, Corporate, and FIG Lending, Structured Finance, Debt Capital Markets, Treasury, FX and Interest Rate Derivatives, Risk Management, and Banking Operations. He began his career at Citibank India in 1995, where he held diverse roles for over a decade, building deep expertise in banking and capital markets. He went on to lead financing businesses at Deutsche Bank as Managing Director and India Head, followed by his tenure as CEO of Commercial Lending & Structured Finance at Edelweiss. Prior to joining IndoStar, he co-founded and served as Joint CEO of APAC Financial Services, where he built a high-growth MSME lending platform from the ground up.
Other Directorships of the Board of Directors
| Sr. no. | Name of the Director | Name of the Companies | |||
|---|---|---|---|---|---|
| 1 | Ms. Naina Krishna Murthy |
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| 2 | Mr. Vishal Goenka |
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| 3 | Mr. Devdutt Marathe |
Brookfield Asset Management |
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| 4 | Mr. Aditya Joshi |
Brookfield Asset Management |
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| 5 | Mr. Randhir Singh |
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| 6 | Mr. Hemant Kaul |
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| 7 | Ms. Sujatha Mohan |
8 |
Mr. Bobby Parikh |
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About IndoStar Capital Finance Limited
IndoStar Capital Finance Limited (“ICFL”) is a Non-Banking Finance Company (“NBFC”) registered with Reserve Bank of India categorized as middle layered NBFC. With Brookfield & Everstone as co-promoters, IndoStar Capital Finance Limited is professionally managed and institutionally owned entity dealing in comprehensive range of financial products like Commercial Vehicle, Construction Equipment, Farm Equipment, Car/MUV, Insurance and Micro Lap -(Small ticket business loans) . IndoStar Capital Finance Limited offers end-to-end lending, financing, credit solutions and caters to the aspirations of the growing consumer base in India, and deliver greater value to our Stakeholder(s). Our assets under management exceed INR 8000 crores and our extensive network of over 500+ branches nationwide serves our growing base of 1 lakh+ customers.
IndoStar Capital Finance Limited focuses on Small time retail customers mainly in Tier 2 , Tier 3 and Tier 4 towns, offering them tailor made solutions to earn their livelihood with competitive pricing & transparent terms.
IndoStar Capital Finance Limited has one wholly owned subsidiary i.e. IndoStar Asset Advisory Private Limited.
“Partner with our customers on their journey to financial success.”
“To be a major financial service provider to our target customers through empowered happy employees, and deliver a competitive shareholder return while maintaining highest ethical behaviour standards.”
Our Values
At IndoStar Capital Finance Ltd, our values serve as the guiding principles that shape our culture and define how we operate as a team. These values reflect who we are, what we believe in, and how we strive to make a positive impact on our clients, employees and the world around us. They inspire us to push boundaries, foster innovation and uphold the highest standards of integrity in everything we do.
We R.E.A.C.H for greater heights by following these core values
RESILIENCE
Ability to withstand and bounce back from difficult, adverse or challenging situations.
ETHICS
Understanding the essence of Code of Conduct and governing business principles.
ACCOUNTABILITY
Responsibility and ownership to the committed actions, decisions and the outcomes of those actions.
COLLABORATION
Work as a team towards a common goal, through shared knowledge, to achieve a desired outcome.
HIGH-PERFORMANCE
Achieving exceptional results by exceeding expectations, and consistent performance.
These values are the foundation of our company, guiding our decisions, actions and interactions. They reflect our commitment to excellence, customer satisfaction, innovation, collaboration, integrity, social responsibility and continuous growth. By embodying these values, we aim to build lasting relationships and create a positive impact in the world.
Meet Our Leaders
Naina Krishna Murthy
Ms. Naina Krishna Murthy is the Chairperson and a Non-Executive Independent Director of IndoStar Capital Finance Limited. She has more than two decades of experience in the legal sector.
Naina Krishna Murthy
Bobby Parikh
Mr. Bobby Parikh is the Non-Executive Non-Independent Director of IndoStar Capital Finance Limited. He has nearly three decades of experience in financial services industry/reorganisations.
Bobby Parikh
Hemant Kaul
Mr. Hemant Kaul is a Non-Executive Independent Director of IndoStar Capital Finance Limited. He has vast experience as an independent management consultant, having worked with private equity firms to evaluate investments in the financial sector.
Hemant Kaul
Sujatha Mohan
Ms. Sujatha Mohan is a Non-Executive Independent Director of IndoStar Capital Finance Limited. Ms. Sujatha Mohan has over 30 years of experience across the Banking and IT industries. Ms. Mohan, a Wharton Alumnus, is the founder of Pharus Consulting LLP, a firm that supports organizations in the BFSI sector by offering a practitioner’s view of digital, business and execution strategies.
Sujatha Mohan
Aditya Joshi
Mr. Aditya Joshi is a Non-Executive Non-Independent Director of IndoStar Capital Finance Limited. He is also a Managing Partner in Brookfield’s Private Equity Group and heads the private equity business for Brookfield India and the Middle-East. Mr. Joshi has conceptualised Brookfield’s private equity strategy for the India and Middle-East region, including nurturing and developing a high quality team, building a robust sourcing engine, leading deal-execution and ongoing portfolio monitoring.
Aditya Joshi
Vishal Goenka
Mr. Vishal Goenka is a Non–Executive Non-Independent Director of IndoStar Capital Finance Limited. He is a Managing Director at Everstone Capital, focusing on investments in industrials and financial services businesses.
Vishal Goenka
Devdutt Marathe
- Director
Mr. Devdutt Marathe is a Non-Executive Non-Independent Director of IndoStar Capital Finance Limited. He is an investment professional with over thirteen years of experience in the Private Equity space. He is currently a Senior VP at Brookfield Asset Management focused on the Private Equity business in the India / Middle East region.
Devdutt Marathe
Randhir Singh
Mr. Randhir Singh is the Managing Director designated as Executive Vice Chairman at IndoStar Capital Finance Limited. He is a seasoned financial leader with 30+ years of experience in MSME/Corporate/FIG Lending, Structured Finance, Debt Capital Markets, Treasury, Sales and Trading, FX and Interest Rate derivatives, Risk Management and Banking Operations.
Randhir Singh
Randhir Singh – Managing Director and Executive Vice Chairman
Mr. Randhir Singh serves as the Managing Director and Executive Vice Chairman of IndoStar Capital Finance Ltd., bringing over 30 years of global financial leadership across MSME, Corporate, and FIG Lending, Structured Finance, Debt Capital Markets, Treasury, FX and Interest Rate Derivatives, Risk Management, and Banking Operations.
Randhir Singh – Managing Director and Executive Vice Chairman
He began his career at Citibank India in 1995, where he held diverse roles for over a decade, building deep expertise in banking and capital markets. He went on to lead financing businesses at Deutsche Bank as Managing Director and India Head, followed by his tenure as CEO of Commercial Lending & Structured Finance at Edelweiss. Prior to joining IndoStar, he co-founded and served as Joint CEO of APAC Financial Services, where he built a high-growth MSME lending platform from the ground up.
Jayesh Jain – Chief Financial Officer
Mr. Jayesh Jain brings over two decades of leadership experience in the Housing Finance and NBFC sectors, with a sharp focus on driving sustainable growth, operational excellence, and cultural transformation. He has led enterprise-wide initiatives in financial strategy, zero-based budgeting, cost optimization, business process reengineering, IPO, capital raising, governance, regulatory compliance, and digital integration. His work has consistently delivered measurable outcomes by embedding execution discipline, simplifying processes, and fostering a culture of ownership and agility.
Jayesh Jain – Chief Financial Officer
Prior to IndoStar, Jayesh held leadership roles at GRUH Finance (a subsidiary of HDFC), PNB Housing Finance, Hero FinCorp, and Balance Hero India. He is a Chartered Accountant and has pursued advanced learning in strategy, digital transformation, fraud management, information systems audit & security and leadership, through executive programs at Harvard, Wharton, and NUS. At IndoStar, he continues to apply this experience to drive strategic planning and transformation across the organization.
Nitin Gyanchandani – Chief Risk Officer
Mr. Nitin Gyanchandani is the Chief Risk Officer of the company. He has over 18 years of experience in the BFSI sector, with expertise in managing Corporate Banking and Credit Underwriting & analysis. Mr. Gyanchandani has handled a wide range of financial products, including commercial vehicle loans, construction equipment loans, healthcare, and auto loans.
Nitin Gyanchandani – Chief Risk Officer
Shikha Jain – Company Secretary
Ms. Shikha Jain is the Company Secretary at IndoStar Capital Finance Limited. She is a Commerce Graduate and a qualified Company Secretary from the Institute of Company Secretaries of India. Ms. Jain has experience working in the secretarial departments of both Public and Private Limited Companies and has worked with IIFL Wealth Finance Limited and the Anand Rathi Group prior to joining IndoStar.
Shikha Jain – Company Secretary
Dipesh Mehta – Chief Product Officer
Mr. Dipesh Mehta is the Chief Product Officer of the Company. With over 30 years of experience in the BFSI sector, he brings strong capabilities across key functions including Business Development, Credit and Risk Management, as well as Product and Portfolio Management. Mr. Mehta has successfully managed a diverse range of products in both corporate and retail segments and has consistently taken charge of setting up and leading large teams for business development across India. His strengths lie in establishing and scaling retail businesses, managing portfolios, and building strong dealer and manufacturer relationships while implementing high operational service standards.
Mr. Mehta brings more than 30 years of extensive experience from India’s top-tier banking and NBFC sectors, including HDFC Bank, ICICI Bank, and Tata Finance.
Dipesh Mehta – Chief Product Officer
Mr. Mehta brings more than 30 years of extensive experience from India’s top-tier banking and NBFC sectors, including HDFC Bank, ICICI Bank, and Tata Finance.
Amit Khan – Chief Operating Officer
Mr. Amit Kumar Khan is the Chief Operating Officer of the Company. With a career spanning over 25 years of leadership contribution in the BFSI industry, he has expertise in handling Retail Business for asset-products like Mortgages, Affordable Housing, Construction Finance, Home Loans, and LAP business, as well as liability and asset operations. He is passionate about building effective teams, formulating strategic goals, and leading initiatives that enhance productivity, scale, efficiency, and performance.
Amit Khan – Chief Operating Officer
Amit Kothari – Chief Technology Officer
Mr. Amit Kothari is the Chief Technology Officer of the Company. He comes with a total experience of over 28 years, including more than 7 years as a CTO with digital lending NBFCs focusing on Secured and Unsecured loans. He is responsible for driving the company’s overall Digital Transformation to build operational resilience across Business Applications, IT Infrastructure, IT Risk/Governance, and Cyber Security.
An evangelist for innovation, Mr. Kothari’s expertise encompasses, Digital Transformation, Data Security, Digital Product Development, and leveraging complex ecosystems that include SaaS/Cloud, Artificial Intelligence, and Machine Learning solutions.
Amit Kothari – Chief Technology Officer
Devaraj C – Chief Business Officer
Mr. Devaraj C is the Chief Business Officer of the Company. With a career spanning over 22 years in Retail Sales, Client Servicing, Credit/Portfolio Management, and People Management, he is a proactive leader and planner. Mr. Devaraj has demonstrated competency in managing large retail portfolios, executing business plans, and implementing strategies to accomplish targets. An effective communicator, his expertise lies in identifying key accounts, expanding the client base, and forging beneficial business partnerships to drive growth and achieve organizational goals.
Devaraj C – Chief Business Officer
K V Bharadwaj – Chief Credit Officer
Mr. K V Bharadwaj is the Chief Credit Officer of the Company. A qualified Chartered Accountant and a Certified Information Systems Auditor, he has over 17 years of expertise in internal audits, processes, management assurance, finance, reporting, planning, and analysis. Mr. Bharadwaj has rich experience in Credit Management, Collections & Recovery Risk Management, and is proficient in devising strategies for collections and recovery. He holds competencies in improving existing systems and processes while supporting and sustaining a positive work environment through strong communication and relationship management skills.
K V Bharadwaj – Chief Credit Officer
Arvind Uppal – Head Collections
Mr. Arvind Uppal is the Head of Collections of the company. A seasoned Senior Management Professional with over 22 years of extensive experience, his expertise spans Strategy Planning, Sales & Marketing, Business Development, Credit & Risk, and People Management. Mr. Uppal possesses significant expertise in both secured and unsecured loans and is adept at establishing profit centres, identifying key markets, and leading teams to implement innovative strategies for growth and profitability. His background highlights a proven track record of improving processes and contributing to organizational success.
Arvind Uppal – Head Collections
P Krishnan – Principal Officer
Mr. P Krishnan is the Principal Officer of the Company. A seasoned and accomplished professional with over 40 years of insightful experience across the Financial Services and Insurance sector, he focuses on Retail & Corporate Business Development, Operations Management, Channel Management, Customer Service, and Cross-Selling & Upselling. Mr. Krishnan has demonstrated expertise in leading overall operations with a profit- centered aptitude, building excellent customer relationships, and ensuring high standards of service are delivered to customers.
P Krishnan – Principal Officer
Binoy Parikh – Chief Compliance Officer
Mr. Binoy Parikh is the Chief Compliance Officer of the Company. With over 17 years of rich experience in the financial services industry, he is a seasoned professional in Compliance, Corporate Governance, and Company Secretarial practices. Mr. Parikh has consistently played a key role in senior leadership, effectively engaging with a wide range of stakeholders including regulatory authorities, C-suite executives, and Boards of Directors. He has successfully led numerous regulatory inspections and audits, playing a critical role in driving remediation and ensuring organizational alignment with evolving regulatory expectations and corporate governance standards.
Binoy Parikh – Chief Compliance Officer
Mihir Bhavsar – Chief Information Security Officer
Mr. Mihir Bhavsar is the Chief Information Security Officer of the Company. A visionary leader with over 32 years of distinguished experience in the BFSI & IT/IS sector, he is dedicated to pioneering technology-driven solutions and advancing CSR and sustainability initiatives. As CISO, Mr. Bhavsar leverages his deep expertise in IT governance and cybersecurity to craft and execute transformative strategies that fortify the company’s security frameworks and harmonize business operations with ethical and environmental imperatives, fostering resilience and responsible growth.
Mihir Bhavsar – Chief Information Security Officer
Jasmine Bawa – Chief Human Resources Officer
Ms. Jasmine Bawa is the Chief Human Resources Officer of the Company. With a career spanning over 15 years in Banking and Financial Services, she has deep expertise in talent management, talent acquisition, compensation and benefits, career pathing, and culture and capability management. Ms. Bawa has served as a strategic advisor to leadership teams across diverse organizations, shaping business direction through HR strategy, workforce planning, and leadership interventions. She has played a foundational role in establishing the culture of various organizations, driving sustained organizational growth and engagement.
Jasmine Bawa – Chief Human Resources Officer
Our Initiatives
Promoting Education
AVASARA ACADEMY
Through Avasara Academy, IndoStar Capital Finance Ltd has contributed towards providing education to adolescent girls from economically weaker sections of the society. The academy is equipping young women with essential…
Empowering Women
POPULATION FIRST
This initiative promotes the economic empowerment of women through vermi-composting. Learning this skill equips members of villages with a lifelong method of earning money while living a healthier life…
Sanitation
Centre for Environmental Research and Education (CERE)
Under the Water Conservation and Rainwater Harvesting Project, conducted at the Police HQ in Naigaon, IndoStar Capital Finance Ltd contributed towards the augmentation of water for the police family…
Management
Randhir Singh
- Managing Director Executive Vice Chairman
Mr. Randhir Singh serves as the Managing Director and Executive Vice Chairman of IndoStar Capital Finance Ltd., bringing over 30 years of global financial leadership across MSME, Corporate, and FIG Lending, Structured Finance, Debt Capital Markets, Treasury, FX and Interest Rate Derivatives, Risk Management, and Banking Operations.
He began his career at Citibank India in 1995, where he held diverse roles for over a decade, building deep expertise in banking and capital markets. He went on to lead financing businesses at Deutsche Bank as Managing Director and India Head, followed by his tenure as CEO of Commercial Lending & Structured Finance at Edelweiss. Prior to joining IndoStar, he co-founded and served as Joint CEO of APAC Financial Services, where he built a high-growth MSME lending platform from the ground up.
Karthikeyan Srinivasan
- Chief Executive Officer
Mr. Karthikeyan Srinivasan is the Chief Executive Officer and Whole time Director at IndoStar Capital Finance Limited. He is a qualified Cost Accountant from the Institute of Cost Accountants of India and holds an MBA in Finance & Marketing from Alagappa Institute of Management. He has over 25 years of experience in the areas of Retail Sales, Client Servicing, Credit / Portfolio Management and People Management in banking and financial services sector and has handled a wide range of financial products including Commercial Vehicle Loans, Construction Equipment Loan, Tractor Loans, Two-wheeler Loans etc. He has worked with various Banks like ICICI Bank Ltd, Kotak Mahindra Finance Limited, Cholamandalam Investment and Finance Company Ltd.
Jayesh Jain
- Chief Financial Officer
Mr. Jayesh Jain brings over two decades of leadership experience in the Housing Finance and NBFC sectors, with a sharp focus on driving sustainable growth, operational excellence, and cultural transformation. He has led enterprise-wide initiatives in financial strategy, zero-based budgeting, cost optimization, business process reengineering, IPO, capital raising, governance, regulatory compliance, and digital integration. His work has consistently delivered measurable outcomes by embedding execution discipline, simplifying processes, and fostering a culture of ownership and agility.
Prior to IndoStar, Jayesh held leadership roles at GRUH Finance (a subsidiary of HDFC), PNB Housing Finance,
Hero FinCorp, and Balance Hero India. He is a Chartered Accountant and has pursued advanced learning in
strategy, digital transformation, fraud management, information systems audit & security and leadership,
through executive programs at Harvard, Wharton, and NUS. At IndoStar, he continues to apply this
experience to drive strategic planning and transformation across the organization.
Nitin Gyanchandani
- Chief Risk Officer
Mr. Nitin Gyanchandani is the Chief Risk Officer of the company. He has over 18 years of experience in the BFSI sector, with expertise in managing Corporate Banking and Credit Underwriting & analysis. Mr. Gyanchandani has handled a wide range of financial products, including commercial vehicle loans, construction equipment loans, healthcare, and auto loans. He has worked with cross- functional teams in laying down credit policies, developing new products, managing various retail asset credit portfolios across all India geographies, and training underwriting teams.
Shikha Jain
- Company Secretary
Ms. Shikha Jain is the Company Secretary at IndoStar Capital Finance Limited. She is a Commerce Graduate and a qualified Company Secretary from the Institute of Company Secretaries of India. Ms. Jain has experience working in the secretarial departments of both Public and Private Limited Companies and has worked with IIFL Wealth Finance Limited and the Anand Rathi Group prior to joining IndoStar.
Dipesh Mehta
- Chief Product Officer
Mr. Dipesh Mehta is the Chief Product Officer of the Company. With over 30 years of experience in the BFSI sector, he brings strong capabilities across key functions including Business Development, Credit and Risk Management, as well as Product and Portfolio Management. Mr. Mehta has successfully managed a diverse range of products in both corporate and retail segments and has consistently taken charge of setting up and leading large teams for business development across India. His strengths lie in establishing and scaling retail businesses, managing portfolios, and building strong dealer and manufacturer relationships while implementing high operational service standards.
Mr. Mehta brings more than 30 years of extensive experience from India's top-tier banking and NBFC sectors, including HDFC Bank, ICICI Bank, and Tata Finance.
Amit Khan
- Chief Operating Officer
Mr. Amit Kumar Khan is the Chief Operating Officer of the Company. With a career spanning over 25 years of leadership contribution in the BFSI industry, he has expertise in handling Retail Business for asset-products like Mortgages, Affordable Housing, Construction Finance, Home Loans, and LAP business, as well as liability and asset operations. He is passionate about building effective teams, formulating strategic goals, and leading initiatives that enhance productivity, scale, efficiency, and performance.
Amit Kothari
- Chief Technology Officer
Mr. Amit Kothari is the Chief Technology Officer of the Company. He comes with a total experience of over 28 years, including more than 7 years as a CTO with digital lending NBFCs focusing on Secured and Unsecured loans. He is responsible for driving the company's overall Digital Transformation to build operational resilience across Business Applications, IT Infrastructure, IT Risk/Governance, and Cyber Security.
An evangelist for innovation, Mr. Kothari's expertise encompasses, Digital Transformation, Data Security, Digital Product Development, and leveraging complex ecosystems that include SaaS/Cloud, Artificial Intelligence, and Machine Learning solutions.
Devaraj C
- Chief Business Officer
Mr. Devaraj C is the Chief Business Officer of the Company. With a career spanning over 22 years in Retail Sales, Client Servicing, Credit/Portfolio Management, and People Management, he is a proactive leader and planner. Mr. Devaraj has demonstrated competency in managing large retail portfolios, executing business plans, and implementing strategies to accomplish targets. An effective communicator, his expertise lies in identifying key accounts, expanding the client base, and forging beneficial business partnerships to drive growth and achieve organizational goals.
K V Bharadwaj
- Chief Credit Officer
Mr. K V Bharadwaj is the Chief Credit Officer of the Company. A qualified Chartered Accountant and a Certified Information Systems Auditor, he has over 17 years of expertise in internal audits, processes, management assurance, finance, reporting, planning, and analysis. Mr. Bharadwaj has rich experience in Credit Management, Collections & Recovery Risk Management, and is proficient in devising strategies for collections and recovery. He holds competencies in improving existing systems and processes while supporting and sustaining a positive work environment through strong communication and relationship management skills.
Arvind Uppal
- Head Collections
Mr. Arvind Uppal is the Head of Collections of the company. A seasoned Senior Management Professional with over 22 years of extensive experience, his expertise spans Strategy Planning, Sales & Marketing, Business Development, Credit & Risk, and People Management. Mr. Uppal possesses significant expertise in both secured and unsecured loans and is adept at establishing profit centres, identifying key markets, and leading teams to implement innovative strategies for growth and profitability. His background highlights a proven track record of improving processes and contributing to organizational success.
P Krishnan
- Principal Officer
Mr. P Krishnan is the Principal Officer of the Company. A seasoned and accomplished professional with over 40 years of insightful experience across the Financial Services and Insurance sector, he focuses on Retail & Corporate Business Development, Operations Management, Channel Management, Customer Service, and Cross-Selling & Upselling. Mr. Krishnan has demonstrated expertise in leading overall operations with a profit- centered aptitude, building excellent customer relationships, and ensuring high standards of service are delivered to customers.
Binoy Parikh
- Chief Compliance Officer
Mr. Binoy Parikh is the Chief Compliance Officer of the Company. With over 17 years of rich experience in the financial services industry, he is a seasoned professional in Compliance, Corporate Governance, and Company Secretarial practices. Mr. Parikh has consistently played a key role in senior leadership, effectively engaging with a wide range of stakeholders including regulatory authorities, C-suite executives, and Boards of Directors. He has successfully led numerous regulatory inspections and audits, playing a critical role in driving remediation and ensuring organizational alignment with evolving regulatory expectations and corporate governance standards.
Mihir Bhavsar
- Chief Information Security Officer
Mr. Mihir Bhavsar is the Chief Information Security Officer of the Company. A visionary leader with over 32 years of distinguished experience in the BFSI & IT/IS sector, he is dedicated to pioneering technology-driven solutions and advancing CSR and sustainability initiatives. As CISO, Mr. Bhavsar leverages his deep expertise in IT governance and cybersecurity to craft and execute transformative strategies that fortify the company’s security frameworks and harmonize business operations with ethical and environmental imperatives, fostering resilience and responsible growth.
Jasmine Bawa
- Chief Human Resources Officer
Ms. Jasmine Bawa is the Chief Human Resources Officer of the Company. With a career spanning over 15 years in Banking and Financial Services, she has deep expertise in talent management, talent acquisition, compensation and benefits, career pathing, and culture and capability management. Ms. Bawa has served as a strategic advisor to leadership teams across diverse organizations, shaping business direction through HR strategy, workforce planning, and leadership interventions. She has played a foundational role in establishing the culture of various organizations, driving sustained organizational growth and engagement.
Committee Composition
We are a professionally managed and institutionally owned organization.
Risk Management Committee
Hemant Kaul
Chairman
Corporate Social Responsibility Committee
Naina Krishna Murthy
Chairperson
Stakeholders Relationship Committee
Devdutt Marathe
Chairman
IT Strategy Committee
Sujatha Mohan
Chairperson
Note: Shareholding as on June 30, 2025
- BCP V Multiple Holdings Pte. Ltd. - Brookfield Group : 55.96%
- IndoStar Capital (Mauritius) - Everstone Group 17.02%
- Public Shareholding-27.02%
CSR at IndoStar
Corporate Social Responsibility is an integral part of our company culture. As a responsible corporation, we respect the interests of our stakeholders- shareholders, employees, customers, suppliers, teaming partners, and the wider community. Also, we actively seek opportunities to improve the environment and contribute to the well-being of the communities in which we operate. Our CSR initiative focuses mainly on the areas of sanitation, education, and women empowerment through skilling and development.
Promoting Education
Avasara Academy
Through Avasara Academy, IndoStar Capital Finance Ltd has contributed towards providing education to adolescent girls from economically weaker sections of the society. Based on the Cambridge curriculum, with an emphasis on leadership, entrepreneurship, and Indian studies, the Academy is equipping young women with essential tools to navigate life after school. Set up as a residential learning programme in Pune, the Academy continues to expand, introducing new facilities such as libraries and hostel accommodation. The students and their parents have changed their perception of receiving education; parents are now willing to send their kids to school to complete their schooling. The teaching techniques used here are more practical which prepares students for real-life scenarios. The students get an equal opportunity to actively involve themselves in sports as they have access to the Oxford Golf ground in Pune.
Empowering Women
Population First
This initiative promotes the economic empowerment of women through vermi-composting. Learning this skill equips members of villages with a lifelong method of earning money while living a healthier life. Women have become more confident and have the ability to contribute towards household incomes, while also being further committed to developing their marketing skills to increase sales. Children in schools are learning the importance of hygiene and have become advocates for the construction of kitchen gardens and soak pits in their community.
Sanitation
Centre for Environmental Research and Education (CERE)
Under the Water Conservation and Rainwater Harvesting Project, conducted
at the Police HQ in Naigaon, IndoStar Capital Finance Ltd contributed towards the augmentation
of water for the police family of the region. This project has yielded notable environmental and social outcomes:
- Harvesting 38.8 million litres of rainwater every year.
- Increase in groundwater table of the entire Naigon precinct area in Dadar.
- Recharge of defunct bore wells.
All the members of the police community have been enthusiastically involved in this project, being actively involved in CERE to complete it on time. The families were trained on the usage and saving of water, thus, helping a deserving section of society that is usually ignored.
