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Managed by IL&FS Investment Managers
SEBI-encouraged funds — venture capital, SME, social-impact and infrastructure. Close-ended, generally unleveraged.
IIML has, during the last decade, witnessed the Indian Private Equity industry expand from less than US$ 20 million to US$ 20 billion. The origins of IIML date back to the eighties when it was founded as Credit Capital Venture Fund (India) Limited (CCVF), an affiliate of Lazard Brothers. CCVF was the first private sector venture capital company in India and managed several sector-focused funds along with proprietary capital investments. Infrastructure Leasing & Financial Services Limited (IL&FS) acquired CCVF, completed management and financial restructuring, merged its private equity business into CCVF and renamed it IL&FS Investment Managers Limited (IIML). IL&FS retains management control of IIML. The company is listed on the National Stock Exchange (Stock Code: IVC) and the Bombay Stock Exchange (Stock Code: 511208). IIML played a pioneering role in establishing India’s first infrastructure-focused private equity fund in the late 1990s (The AIG India Sectoral Equity Fund). In the early 2000s, it launched a dedicated infrastructure seed capital fund (The India Project Development Fund). By the mid-2000s, it established one of the first and largest real estate funds in India (The IL&FS India Realty Fund – I).
Mr. Kaushik Modak
Director
Mr Kaushik Modak is currently serving as Non-Executive Nominee Director of Infrastructure Leasing & Financial Services Limited of the Company. Mr Modak is a qualified Chartered Accountant. Mr Modak was the CEO & Country Head of Rabobank India. He also worked for Bank of America as the Principal & Head – Debt Capital Markets in India and at Kotak Mahindra Finance as the VP & Head – Fixed Income Securities Group. Mr Modak is currently serving as the CEO of IL&FS Financial Services Limited
Ms. Priya Prempal Shetty
Director
Ms Priya Shetty is currently serving as Non-Executive Nominee Director of Infrastructure Leasing & Financial Services Limited of the Company. Ms Shetty has completed her Masters in Management Studies from Sydenham Institute of Management, Mumbai University and holds a Bachelor of Commerce Degree from Sydenham College, Mumbai UniversityMs Shetty is currently deputed as CEO of IL&FS Securities Services Limited. She was Executive Director heading Kotak’s Advisory and Capital Markets practice in Financial Services and Healthcare Sectors before joining IL&FS. Over her 12 years at Kotak, she played a crucial role in successfully reinforcing its Financial Services advisory practice and established its Healthcare franchise in both M&A/PE and public market offerings. She has also worked for about 12 years with Lazard India Limited as Associate Director covering Pharmaceuticals, Chemicals, Consumer and Metals sectors
Ms. Lubna Ahmad Usman
Director
Ms Lubna Usman is currently serving as Executive Director and Chief Executive Officer & Chief Financial Officer of IL&FS Investment Managers Limited. Ms Usman has completed her Master of Business Administration (MBA) from S.I.E.S College of Management Studies, MumbaiMs Usman is a senior management professional with more than 24+ years of experience in providing strategic leadership, project finance, debt restructuring and treasury management across banking and non-banking finance companies
Ms. Jayashree Ramaswamy
Director
Ms. Jayashree Ramaswamy is currently the Group Chief Financial Officer of IL&FS and also holds the CFO position in IL&FS Financial Services Limited. She is responsible for helping the Board in finance matters while it undertakes the resolution activities. She joined IL&FS Group in September 2019.She has over 36 years of experience in leading the finance function across diverse industries including IT, Financial Services Information Services. In her earlier stints, she has served companies like Bharat Heavy Electronics Limited, India Securities Limited, Credit Suisse First Boston India Ltd, TCG Ivega Information Technologies Limited, Cargil Capital Financial Services and Dun & Bradstreet Information Services Limited. She has functioned as a Chief Financial Officer and has led the finance function for more than two decades in the organisations that she has served.
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Mr. Chitranjan Singh Kahlon
Director
Mr Chitranjan Singh Kahlon is currently serving as the Independent Non-Executive Chairman of the Company. Mr Kahlon has a Diploma from the University of Birmingham, United Kingdom and Master of Arts from Punjab University. He is also a Member of the Indian Revenue Service.Mr Kahlon served as a member of Central Board of Direct Taxes, Government of India and as an Executive Director of Securities & Exchange Board of India and has worked in various capacities in the Indian Revenue Service. Mr Kahlon has hands-on experience in the field of Capital Market and is familiar with Tax administration in India particularly with regard to Tax policy. Mr Kahlon has been a member of the ‘Speculative Transactions Committee’ constituted by the Finance Minister of India and Member of the Committee to draft the Prevention of Money Laundering Act.
Mr. Gaurav Khungar
Director
Mr Gaurav Khungar is currently serving as Non-Executive Nominee Director of Infrastructure Leasing & Financial Services Limited of the Company. Mr Khungar has completed his Masters of Business Administration (Post Graduation) from the University of North Carolina, USA. Mr Khungar’s current role requires operations and asset management of a portfolio of IL&FS entities. Mr Khungar is designated as a CEO at IL&FS. Prior to his current role, Mr Khungar held very senior positions with the Big Four Firms and Financial Services Companies. He held the position of Senior Partner PWC, Managing Director at O3 Capital, Managing Director at Religare Capital Markets, Senior Partner at KPMG and Head of Strategic Advisory and M&A at Rabo Bank. He has experience in Capital raises through Initial Public Offerings, Private Equity, Venture Capital and Debt, Investment Banking and M&A
Mr. Munish Kumar Saraogi
Director
Mr Munish Kumar Saraogi is currently serving as an Independent Non-Executive Director of the Company. Mr Saraogi is a qualified Chartered Accountant and also holds a degree in Commerce. Mr Saraogi has over three decades experienceMr Saraogi was National Director Price waterhouse Coopers for more than 3 years, Director with Deloitte and worked with EY for more than 20 years. He has specialization in Audit as per IAS & IGAAP, Expert Knowledge of both GAAP & GAAS related standards along with Technical Expertise over Accounting Standards & Auditing Standards as recognized by ICAI, EY & PWC. He has worked in the core group of ICAI to converge Indian standards in IFRS and also the Financial Reporting Review Board of ICAI
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