Board of Directors

Mr. V P Shetty has had an illustrious Banking career spanning almost four decades. He has worked in various positions in four major nationalised banks. He has worked as Chairman and Managing Director in UCO Bank, Canara Bank and IDBI Bank. He was also Chairman of Indian Banks’ Association. Mr. Shetty is an authority in commercial banking, Mergers & Acquisitions in Banking, Corporate Governance and Turnaround Management especially in Public Sector. Mr. Shetty was also a Recipient of “Banker of the Year – 2003” Award from the Business Standard Group in recognition of successful turnaround of UCO Bank. Mr. Shetty has also served on the Boards of Life Insurance Corporation of India, Export-Import Bank of India, Infrastructure Development Finance Company Ltd., National Insurance Company Ltd., and General Insurance Corporation of India. He was a Member of Governing Council of Banking Codes and Standards Board of India (BCSBI) and was on Board of LIC Golden Jubilee Foundation. Mr. V P Shetty is also the Chairman of JM Financial Asset Reconstruction Company Limited, JM Financial Asset Management Limited and JM Financial Products Limited.

Mr. Sheth joined JM Financial in 2001 and has been associated with the group from more than two decades. Since then, he has played various roles in transforming JM Financial group into a financial services conglomerate. In the year 2017, Mr. Sheth successfully incubated and built a housing finance business from scratch. He convinced the management and the board to venture into a value creation opportunity by getting into affordable housing finance. He managed right from applying to NHB to recruiting right talent and operationalizing the business.

From 2006 to 2023, he served as the Group CFO. In addition to overseeing finance and related matters of JM Financials’ Group’s key business segments including Investment Banking, Wealth and Securities business, NBFCs, HFC, Private Equity (PE), Asset Reconstruction (ARC), Asset Management (Mutual Fund) and Alternate Investment Fund (AIF) businesses, he was also responsible for international treasury and operations. Additionally, he was a part of the Investor Relations function for the group and a member of the Group Asset Liability Management Committee (Group ALCO). He has been a first port of call for restructuring, negotiations and execution for any JV, stake sale, strategic investments or acquisition opportunity for the group

Additionally, Mr. Sheth is a member of IC for JM Financial family office having investments across asset classes (Equities, Debt, PEs & VCs, Real Estate, and Overseas). Some of the marquee investments includes investments in pre-IPO shares of Facebook (US), international REITs, Private Equity investments in Nykaa, PharmEasy, Toothsi, Jupiter hospital, Multiples PE, Asha impact fund, Paragon partners etc.

Mr. Sheth is also a trustee of JM Financial Foundation, a charitable trust carrying on philanthropy and CSR initiatives for JM Financial Group. Trust has a corpus of over Rs 100 Crores and its implementing variety of charitable and CSR projects across hinterland in India. Trusts operates in Bihar, Jharkhand, Gujarat, Rajasthan and Maharashtra through their projects cutting across poverty alienation, healthcare, education and livelihood support initiatives

Mr. Sheth was also awarded as Best CFO winner in the category, ‘CA CFO Financial, Consulting and Other Service Sector’ at the 11th ICAI Awards in 2017.

Ms. Tara Subramaniam is a Law graduate from Government Law College. She is a stalwart in the BFSI sector. Ms. Subramaniam started her career in 1983 with HDFC Limited and during her association spanning over 28 years with HDFC Limited, Ms. Subramaniam’s influence and extensive experience was instrumental in setting up and growing the organisation. Ms. Subramaniam joined the NBFC arm of JM Financial Group as Chief Operating Officer in 2014 where she had led landmark decisions and played a crucial role in developing their real estate portfolio in Mumbai, Pune, Chennai, Hyderabad and Bengaluru.

During her prolific career, she was also associated with the SUN Group and Piramal’s India REIT Fund. Ms. Subramaniam was a member of the advisory council of NAREDCO West and the founding member of their women’s wing, ‘Mahi’, where she has since dedicated her time and efforts to create an environment where women in real estate sector can come together, share their experiences, harness their skills, draw on their resources, influence, grow together and bring about lasting change. Ms. Subramaniam was also a RERA conciliator for over two years.

Ms. Subramaniam’s extensive knowledge and experience has been invaluable to a number of companies like Vascon Engineers Limited, Tips Industries Limited, Restaurant Brands Asia Limited, Delta Tech Gaming Limited, where she serves as an independent director on the board of these companies. Ms. Subramaniam is also a Senior Advisor at actyv.ai., an AI powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) transforming the B2B supply chain by making business transactions faster and easier.