CARE Advisory, a Division of CARE group has been extending Financial Advisory Services. Its Clients include Ministries of Central Government, State Government Departments, Public Sector Undertakings and a number of private sector corporates.

CARE Advisory offers advisory services in the areas of credit capacity assessments (of State Governments, Government bodies and Corporate), Preparation of Business improvement plans, TEV studies, enterprise valuations, business and financial restructuring, markets & industry studies, financial modelling,  diagnostic studies,  project appraisals, bid process management, feasibility studies, design of credit appraisal systems, formulation and implementation of risk management strategies, due diligence studies, etc.

Board of Directors

Mr. Ajay Mahajan

Chairman

Mr. Ajay Mahajan is the Managing Director & CEO of CARE Ratings Ltd.. He is a widely experienced financial services expert with 30 years in banking and capital market businesses. He worked in organizations like Bank of America where he started his career in 1990 and went on to become MD & Country Head of Global Markets Group. Here he also led the initiative of building the first 100% foreign owned NBFC in the country to do primary dealership and fixed income credit. Thereafter, Ajay joined YES BANK in a top management role to build out multiple functions like Financial Markets, Investment Management, Financial Institutions and International Banking. Ajay moved thereafter to UBS in 2008 to build their India franchise from scratch, another deeply entrepreneurial role. Ajay's last assignment was a 7 year long stint in IDFC Group which he joined in 2013 to play a hugely transformative role to lead the conversion of their Infrastructure financing business to a multi-product, multi-segment wholesale banking business comprising Corporate Credit, SME Credit, Financial Markets, Government Banking, Financial Institutions and International Banking. Besides, this role required building teams, systems, processes and cutting-edge technologies to support the wholesale bank’s growth. Ajay was one of the founding members of FIMMDA, the financial markets SRO in India and headed product development committee and several other initiatives for market development. He also held the Vice Chairman role at FIMMDA. Ajay holds a Bachelor of Engineering in Electrical & Electronics Engineering from BITS Pilani, and an MBA from FMS (where he was a Gold medalist) and is also CFA Charter holder from CFA Institute, USA.

Mr. Mehul Pandya

Director

Mr. Mehul Pandya is the Executive Director at CARE Ratings Ltd. As the Head of CARE Ratings business in India and abroad, he is responsible for providing tactical impetus to CARE’s rating operations. He has successfully incubated and nurtured CARE’s business outside India as well. He is also a member of the Board of Directors of all subsidiaries of CARE Ratings. He is a technocrat with management background and also a CFA charterholder from CFA Institute, USA. Having joined CARE Ratings in the year 2000, he has more than 20 years of experience in the rating industry. Prior to joining CARE Ratings, he worked with a state level financial institution in the State of Gujarat in India for about four years and was instrumental in establishing an in-house credit rating cell for the screening of lending proposals. As such, he has a domain experience of nearly 25 years. He has worked as a Consultant for the Asian Development Bank (ADB) for a Country Study in 2010. He has also conducted various training programmes pertaining to Credit Risk Analysis in India as well as abroad.

Mr. Sudip Sural

CEO

Mr. Sudip Sural is the Chief Executive Officer of CARE Advisory Research and Training Limited (CART), a wholly owned subsidiary of CARE Ratings Ltd. He is an infrastructure and credit risk specialist with more than 25 years of experience in credit ratings, infrastructure finance and corporate financial risk assessment. Sudip’s areas of expertise include corporate and infrastructure credit assessments, structured finance including credit enhancement mechanisms, public private partnerships in infrastructure development, institution strengthening and capacity development. He has worked with clients like the Asian Development Bank, World Bank, Large Indian Corporates, Financial Institutions and Governments in India and South East Asia. Sudip holds a B.Sc.(Hons) in Mathematics in Delhi University and an MBA from BIM Trichy.

Mr. Ajay Mahajan

Chairman

Mr. Ajay Mahajan is the Managing Director & CEO of CARE Ratings Ltd.. He is a widely experienced financial services expert with 30 years in banking and capital market businesses. He worked in organizations like Bank of America where he started his career in 1990 and went on to become MD & Country Head of Global Markets Group. Here he also led the initiative of building the first 100% foreign owned NBFC in the country to do primary dealership and fixed income credit. Thereafter, Ajay joined YES BANK in a top management role to build out multiple functions like Financial Markets, Investment Management, Financial Institutions and International Banking. Ajay moved thereafter to UBS in 2008 to build their India franchise from scratch, another deeply entrepreneurial role. Ajay's last assignment was a 7 year long stint in IDFC Group which he joined in 2013 to play a hugely transformative role to lead the conversion of their Infrastructure financing business to a multi-product, multi-segment wholesale banking business comprising Corporate Credit, SME Credit, Financial Markets, Government Banking, Financial Institutions and International Banking. Besides, this role required building teams, systems, processes and cutting-edge technologies to support the wholesale bank’s growth. Ajay was one of the founding members of FIMMDA, the financial markets SRO in India and headed product development committee and several other initiatives for market development. He also held the Vice Chairman role at FIMMDA. Ajay holds a Bachelor of Engineering in Electrical & Electronics Engineering from BITS Pilani, and an MBA from FMS (where he was a Gold medalist) and is also CFA Charter holder from CFA Institute, USA.

Mr. Rajesh Mokashi

Director

He holds a Bachelor's degree in Mechanical Engineering from VJTI, Mumbai and a Master of Management Studies degree from Mumbai University. He is a qualified Chartered Financial Analyst. He has more than 30 years of experience in finance, commerce and credit risk sectors. He has been associated with OTIS Elevators, DSP Financial Consultants Ltd. and Kotak Mahindra Finance Ltd. in the past. He has been associated with CARE since 1993 and is the CEO and MD of CARE Ratings.

Mr. Mehul Pandya

Director

He holds Bachelor’s degree in Engineering (Instrumentation and Control) from Gujarat University and Master’s degree in Business Administration from Bhavnagar University. He is a qualified Chartered Financial Analyst. He has over 20 years of experience in the field of providing Rating Services. He is currently the Executive Director of CARE Ratings.

Mr. Sanjeet Kumar

CEO

CART’s team is led by its CEO, Mr. Sanjeet Kumar. Mr. Sanjeet Kumar holds graduate degree in Economics (H) from Hansraj College, Delhi University and Master’s Degree in Economics from Pune University. He also holds Post Graduate Diploma in Business Management from Symbiosis Institute of Management Studies, Pune. He has more than 20 years of experience in working with Rating Agency and Banks. He has worked with multiple organizations such as CARE Ratings, Deutsche Bank group, DBS Bank, Bank of Nova Scotia. He has extensive experience in the field of credit risk assessment and project appraisals.