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Board of Advisors

Mrs. Renu Sud Karnad


Mrs. Renu Sud Karnad is the Managing Director of the HDFC Ltd. She is a graduate in law from the University of Mumbai and holds a Master’s degree in economics from the University of Delhi. She is a Parvin Fellow ‐ Woodrow Wilson School of International Affairs, Princeton University, U.S.A. She has been employed with the HDFC Ltd. since 1978 and was appointed as the Executive Director of the HDFC Ltd. in 2000 and was re‐designated as the Joint Managing Director of the HDFC Ltd. in October 2007. She has been appointed as the Managing Director of the HDFC Ltd. She is responsible for the Operations, Human Resources and Communications functions of the HDFC Ltd.

Mr. C. B. Chhaya

Retired as Managing Director of Bob Cards Ltd. ‐ a subsidiary of Bank of Baroda on December 2003. The position was in the Top Executive cadre of Bank of Baroda. Managing Credit Cards & Debit Cards.

Before that Mr. Chhaya held following various positions at Bank of Baroda.

  • Zonal Head and Deputy General Manager of Rajashtan Zone
  • Deputy General Manager Corporate Banking Branch Pune
  • Assistant General Manager ‐ Central Inspection Division Corporate office, Mumbai.
  • Regional Manager Jamnagar / Junagadh & Rajkot Regions

Principal Officer for Sultanate of Oman Territory ‐ for 5 1/2 years. Compliance with Regulations of the Central Banking Authority & the country. Separate Balance Sheet, Tax Planning, Forex Dealings, Business Development.

Board of Directors

Credila’s management team includes professionals with extensive experience in financial services, education, technology and marketing.

Mr. V. Srinivasa Rangan

Chairman of the Board of Directors

Mr. Rangan is the Executive Director of HDFC Ltd. Mr. Rangan, holds a Bachelor’s degree in Commerce and is an associate member of the Institute of Chartered Accountants of India and Institute of Cost and Works Accountants of India. Mr. Rangan joined the HDFC Ltd. in 1986 and has served in Delhi and was the Senior General Manager ‐ Corporate Planning & Finance at Head Office since 2000. Mr. Rangan has been appointed as the Executive Director of the HDFC Ltd. He is also a member of the Investors Grievance Committee of Directors with effect from May 4, 2010. He is responsible for the Treasury, Resources and Accounts functions of the HDFC Ltd.

Mr. B. Mahapatra

Independent Director, Member of the Board of Directors

Mr. Mahapatra was a career central banker. He retired as Executive Director of the Reserve Bank of India at the end of August 2014. Most of his career in the Reserve Bank was in the areas of banking regulation, policy, and supervision. He brings on table his vast experience and insight into banking regulation and policy. Post‐retirement, he was retained by the Reserve Bank as an Adviser on a full‐time contract basis for six months to oversee new bank licensing process. He has represented the Reserve Bank of India at various national and international fora; the most important being at the Policy Development Group of the Basel Committee on Banking Supervision. In the process, he was closely associated with the formulation of Basel II and Basel III regulations.

He has chaired many committees; the oft spoken one is his report on prudential treatment of restructuring of problem loans by banks and financial institutions. He was also the Member‐Secretary to the Committee set up to introduce financial holding company in India.

Mr. Mahapatra has co‐authored a book on Derivatives Simplified : An Introduction to Risk Management.

He holds a Master of Science in Management (MSM) degree from the Arthur D. Little Management Education Institute, Cambridge, Massachusetts, USA. He did his Master of Business Administration (MBA) from the Faculty of Management Studies, University of Delhi and Master of Arts from the Jawaharlal Nehru University, New Delhi.

Mr. Amitabh Chaudhry

Independent Director, Member of the Board of Directors

Mr. Amitabh Chaudhry is the MD and CEO of HDFC Standard Life Insurance Company Ltd. a joint venture between HDFC Limited (one of the largest professionally managed and diversified financial conglomerates in India) and Standard Life Plc of UK. He has been with the company since January 2010. HDFC Standard Life is today recognized as the premium brand in the insurance space and is one of the India’s largest private insurers. Before joining HDFC Standard Life, he was the MD and CEO of Infosys BPO Ltd and was also heading the Testing unit of Infosys Technologies Ltd. He played a critical role in building the BPO company from its inception to an extremely profitable business with presence in eleven centers across seven countries.

He started his career in 1987 with Bank of America and worked in diverse roles ranging from Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets and Chief Finance Officer of Bank of America (India). He moved to Credit Lyonnais Securities in 2001 where he headed their investment banking franchise for South East Asia and structured finance practice for Asia before joining Infosys BPO in 2003. Mr. Chaudhry completed his Engineering in 1985 from Birla Institute of Technology and Science, Pilani and MBA in 1987 from IIM, Ahmedabad.

He also serves on the Board of Manipal Global Education Services Limited a market leader in corporate and college education in various emerging markets and Shriram Transport Finance Co. Ltd. one of the largest Non Banking Auto Finance companies in India.

Mr. Sudhin Choksey

Independent Director, Member of the Board of Directors

Mr. Sudhin Choksey, the Managing Director of GRUH Finance Limited, is a Fellow Member of the Institute of Chartered Accountants of India. He has been on the Board of GRUH sing May 1996. He has more than 35 years of working experience of handling functional areas of finance, commercial and general management both in India and abroad. He is a Director on the Board of Deepak Nitrite Limited, Gujarat Ambuja Exports Ltd, Hunnar Shaala Foundation for Building Technology and Innovations and Saath Livelihood Services.

He is also a member of Stakeholder Relationship Committee of GRUH Finance Ltd., Chairman of Audit Committee and Member of the Nomination and Remuneration Committee of Deepak Nitrite Limited Chairman of Audit Committee of Gujarat Ambuja Exports Ltd.

Mr. Subodh Salunke

Member of the Board of Directors

Mr. Subodh K. Salunke has a Bachelor’s Degree in Commerce and a Master’s Degree in Business Administration. He joined HDFC in 1988. He is currently Regional Manager ‐ Mumbai and his responsibilities include business development in Mumbai & Vidharbh Region through the developer and corporate channels.

Mr. Salunke has also worked in Management Services Division of HDFC. He is responsible for Operations Training at an all‐India level.

He has been involved in the development and execution of training programmes in Indonesia. He was also a member of the Study Group on Housing Finance to the UK. He has undertaken an assignment of a feasibility study of Housing Finance Companies in Maldives.

Mrs. Madhumita Ganguli

Member of the Board of Directors

Mrs. Madhumita Ganguli is a Member of the Executive Management of HDFC Ltd, India’s largest mortgage lender. She has a career spanning 33 years with the organization with various responsibilities both in the Legal functions as well as Business Operations of the organisation. She is a lawyer by qualification and through her experience she is a housing finance professional. Her core strengths have been ability to work in large cross functional teams, lead large teams of people with a mix of both senior and junior colleagues, ability to empathise, understand issues with an open mind and find solutions.

She had steered the Business Process Reengineering (BPR) program in HDFC for retail lending which has been successfully rolled out across HDFC offices both nationally as well as internationally. The BPR exercise has helped HDFC accentuate its competitive edge by introducing technology in the underwriting process.

She was a key member of the team that providing consultancy for setting up the operations of Mauritius Housing Finance Company in Mauritius.

She had the opportunity to sit on key committees pertaining to Housing finance. The key amongst them being, the NHB working committee on Standardizing of Loan Documentation for Retail Housing Loans and a committee set up by FICCI to formulate recommendations for Government of India for the Real Estate Sector.

She sits on the boards of an education company i.e. Career Launcher Educate Ltd. and the real estate company of DCM i.e. Purearth Infrastructure Ltd. and has also been a speaker at various international and national seminars on Housing Finance.


Mr. Ajay Bohora

Co‐Founder and CEO, Member of the Board of Directors

Mr. Ajay Bohora is a founder and Chief Executive Officer of Credila. He started his career with Tata Exports Ltd. and then went to New York to pursue his MBA. After his MBA he worked in the field of Finance at various positions for six years at MetLife Insurance Company in its New York offices. He is also a certified Financial Planner from the states of New York and Connecticut.

After 8 years in the USA, he returned to India, to start a joint venture. The joint venture was in the field of Business Process Outsourcing (BPO) where the US based company owned 51% and remaining 49% was owned by him and his brother Anil. After growing the healthcare focused BPO, it got acquired by the global BPO giant WNS Global Services. He served on the Board of Directors of WNS Global Services. WNS was owned by British Airways and Warburg Pincus. In 2005, WNS went on with its IPO (Initial Public Offering) on New York Stock Exchange (NYSE)

With a track record of success, in 2006, along with his brother Anil, he founded India’s First Dedicated Education Loan Company. It provides Education Loans to students for their higher studies in India and abroad. HDFC Ltd. has invested in Credila and is now a subsidiary of HDFC Ltd.

He has served as the Member of the Sub Committee on "Student Financial Aid" of Government of India, Delhi. He has serveed as the member of the Senate of 125 years old prestigious Engineering Institute: VJTI, Mumbai. He has also served as a special invitee to one of the committees of the University Grants Commission UGC. He has also served as a member of Higher Education Network, FICCI, Federation of Indian Chamber of Commerce and Industries, Delhi. He is a recipient of "Engineering Achievement Award" by The Institute of Engineers (India) for the year 2007‐08. He is the recipient of "Emerging Leader of the Year Award" in 2012‐13.

He has earned Bachelor of Engineering from VJTI, Bombay University and MBA from Hofstra University, New York.

Mr. Anil Bohora

Founder and COO, Member of the Board of Directors

Mr. Anil Bohora is a founder and Chief Operating Officer of Credila. Anil is also Member of Board Of Directors of Credila.

His professional experience includes diverse technological and managerial areas.

Before founding Credila Anil has co‐founded ClaimsBPO, a business process outsourcing (BPO) company in 1997. After growing the company to a certain size, ClaimsBPO was sold to WNS Global Services Pvt. Ltd., a Warburg Pincus owned company in September 2003.

Before ClaimsBPO he has held senior management positions from startup to large corporations including AOL Time Warner, Pitney Bowes, etc. where he was responsible for successfully managing the design, development and implementation of large complex systems to reduce cost and increase efficiency by outsourcing critical business processes. At AOL Time Warner he was responsible for managing large business relationships.

Mr. Anil Bohora received his Bachelor of Engineering (Electronics and Telecommunications Engineering) from College of Engineering Poona, India. He earned his Master of Science (Electrical and Computer Engineering) degree from Ohio University, USA.

Mr. Shridhar Hebbar

Chief Risk Officer and Head Operations

Mr. Shridhar Hebbar is the Chief Risk Officer and Head Operations of Credila.

Shridhar Hebbar joined Credila Financial Services Pvt. Ltd. in March 2011. Prior to joining Credila, he was with Deutsche Bank AG in their Private & Business Client division for around 5 years with the last assignment being National Sales Head ‐ Developer Channel & Product Head ‐ Unsecured Asset. During his tenor at Deutsche Bank he was also part of Credit Risk Management involved in Senior Risk Management positions handling Collection Support, Centralised Personal Loan Underwriting Team and Mortgage Underwriting for Western & Eastern India.

His past assignment includes Regional Credit Head ‐ West managing the mortgage portfolio at ABN Amro Bank N.V (now RBS), Area Sales Manager ‐ Vidarbha & Chhatisgarh with ICICI Group in their Home Loan vertical.

He also has spent time with Gruh Finance Limited (An HDFC Limited subsidiary) in his initial days. Overall, Shridhar has 20 years experience in the financial services sector.

Shridhar Hebbar is a Master of Management Studies & Bachelor of Electrical Engineering from Goa University with a Diploma in Business Finance from ICFAI, Hyderabad.

Mr. Sebastian Fernandez

Chief Financial Officer (CFO)

Sebastian is presently responsible for overseeing the management and co‐ordination of all financial reporting activities for the company and developing and maintaining systems of internal control to safeguard the financial assets of the company; compliances; handling investor relations; managing the debt raising efforts of Credila by way of bank borrowings, commercial papers, debentures, etc. and developing business models. In addition to this, Sebastian is a member of the ALCO and Risk Management Committee of the Company.

Sebastian joined Credila in July 2007 as part of the core project team that set up credit, operations, risk and compliance framework pan India and was instrumental in formulating the Credit Policy and loan related documentation.

Prior to joining Credila, he worked with the Compliance & Risk team of ICICI Bank’s Retail Assets Product Group and has also held various roles in audit and finance in different industries.

Sebastian is a Chartered Accountant & Chartered Financial Analyst (ICFAI) by qualification having over twelve years post qualification experience with a decade long experience in the Banking & Financial Services Industry.

Mr. Hitesh Parashar

National Sales Manager

Hitesh joined Credila Financial Services Pvt. Ltd. in Oct. 2013. He has a distinguished career in retail and channel sales spanning 11 years in Personal Loans, Business Loans, LAP, Home Loans, Credit/Debit cards and Auto Loans across different locations in India. He has also managed outbound telesales, portfolio analytics and customer service escalations for his previous organizations and has unmatched experience in leading large cross functional teams to attain common business goals.

He started his career with Hindustan Petroleum as Retail Sales Officer and managed their retail network in Punjab and Himachal for fuel sales and loyalty cards. Subsequently he worked with GE and ICICI Bank in their Retail lending and Credit Card divisions. His last assignment was with Fullerton India where he managed Delhi Cluster for Branch network and Direct Sales Channel.

Hitesh Parashar holds Bachelor of Engineering in Instrumentation from Bhavnagar University and PGDBM from IMT Ghaziabad.

Chandini Sehgal

Head ‐ Marketing & Channels

Chandini has a rich experience in both FMCG and the Financial Sector. During her stint with Glaxo SmithKline Consumer Healthcare, she has held multiple positions including being a part of the core team to launch the Vending Business. She also introduced unique marketing tools while heading Business Development in the Western Region

Her diverse experience with ABN AMRO Bank in the premium Cards and Preferred Banking division, adds to her versatile exposure to multiple products and sectors.

She has been working with Credila since 2010, scriptwriting the story of Credila and creating the brand ’Credila’ as we know it today. Her creative streak & passion for innovative marketing has led to Credila pioneering some extremely innovative & trend setting marketing initiatives & channel development tools.

She has earned her MBA degree from Symbiosis Institute of Business Management (SIBM), Pune. She has been a sharp shooter, an athlete, loves travelling & adventure sports.

Credila Financial Services is a Subsidiary of Housing Development Finance Corporation Limited (HDFC) . Housing Development Finance Corporation Limited is one of the leading financial services companies of India.
Credila Financial Services Private Limited Registered Office: B 301, Citi Point, Andheri‐Kurla Road, Andheri (East), Mumbai‐400 059, India