About JM Financial Group

Mr. DimpleKumar Shah is an Associate member of the Institute of Chartered Accountants of India with a background in Commerce and also hold degree of Cost and Work Accountants (ICWAI).

Mr. Shah, having 27 years of experience in Stock Broking and Financial services and heading Equity Brokerage business of JM Financial Services Limited since 2005, also spearheads the offline and online broking business of the Company through different verticals and product basket. 

Prior to joining JM Financial Services Limited, Mr. Shah, was associated with Anagram Stock Broking Limited where he was Whole Time Director and Oversaw business development and branch expansion and was instrumental in setting up functional branches in a short period of time.

Mr. Gandhi possesses 34 years of experience in the financial markets arena. He has handled the Equity Broking, Depository, Primary Markets, NBFC, Wealth Management Operations, Legal Matters, Information Technology and Regulatory Compliances. He has been associated with the Capital markets since November 1989.  

Before his association with JM Financial Services Limited, Mr. Gandhi has worked with various financial organizations in several capacities. His various professional tenures have enabled him to gain deep expertise and thorough understanding of the financial markets.

Mr. Gandhi is a qualified Chartered Accountant from India, a Certified Management Accountant from CMA (USA), CMA (Australia) and CGMA (CIMA UK) besides being Certified Public Accountant (CPA) from Australia and USA (License Awaited). He is also an alumni of the Indian Institute of Management (IIM), Kolkata having completed the Executive Education in Planning and Leadership and Management from the Indian Institute of Management (IIM), Kolkata.

Mr. Gandhi is on the Board of Directors of the Broking Industry Associations viz; Association of Exchange Members of India (“ANMI”), BSE Brokers Forum, Chairman of the SEBI and Exchange Committee of ANMI and is a broker public member on the SEBI mandated Clearing Corporation Committee at National Clearing Corporation.

Mr. Gagan Kothari is the Chief Financial Officer of JM Financial Services Limited and a qualified Chartered Accountant with over 20 years of experience within the JM Financial Group. 
 
In his recent role as Chief Operating Officer of JM Financial Limited, he focused on strengthening integration across capital market businesses, enhancing operational efficiency, and driving cross-platform synergies across the Group. Prior to this, he served as the Chief Financial Officer of JM Financial Credit Solutions Limited, the Group’s wholesale and structured credit NBFC, for over a decade. During his tenure, he played a pivotal role in partnering with boards, investors, lenders, and regulators, while contributing significantly to the company’s financial strategy and governance framework.
 
Mr. Kothari is a member of the Group Asset Liability Management Committee (Group ALCO) and actively contributes to investor relations initiatives across the Group. His expertise spans finance and strategic planning, treasury management, regulatory and investor reporting, corporate governance, compliance management, stakeholder engagement, MIS and financial controls, consolidation of accounts, listed company compliance, and the establishment of Alternative Investment Funds (AIFs).
 
He has also been closely involved in private and pre-IPO equity transactions, where he helped build institutional frameworks for investment sourcing, due diligence, structuring, execution, and risk management in unlisted investments. Additionally, he has played an important role in expanding the Group’s international presence and operations.
 

Mr. Malav Shah is a qualified lawyer and Company Secretary with approximately 20 years of experience in the securities and capital markets sector, along with expertise in legal, compliance, and company secretarial functions.

He currently serves as the Company Secretary and Compliance Officer at JM Financial Services. Prior to this, he was the Head of Legal and Compliance at National Securities Depository Limited from January 1, 2021. He has also held senior roles at leading law firms, including Counsellor at Khaitan & Co. and Principal Associate at J. Sagar Associates, where he led numerous transactions and advisory assignments across various industries.

Mr. Shah holds multiple professional qualifications, including a Master’s degree in Business Law, LL.B., Company Secretary and M.Com among others.

Mr. Hariharan Aiyar is a seasoned financial professional with a strong foundation in investment banking, private equity, and alternative credit. A magna cum laude graduate of Columbia University (A.B., 1990) and an MBA with Distinction from Harvard Business School (1995), Mr. Aiyar began his career at Morgan Stanley in New York.

In the early '90s, he played a pioneering role in building Corporate Finance Coverage for Indian entities and led the first GDR issuance for Reliance Industries. Post-Harvard, he returned to Morgan Stanley to manage Emerging Markets Special Situations and later founded the Strategic Trading Initiatives and Investments Group—spearheading investments in Electronic Markets, Asset Managers, and Financial Technology Platforms including Algorithmics, BRUT LLC, PHLX, and ISE.

In 2005, Mr. Aiyar became Managing Partner of the Indian Advisor to Citigroup Alternative Investments/Napier Park, overseeing investments in infrastructure and real estate through the Old Lane India Opportunities Fund. He later co-founded First Finance with Vikram Pandit (former CEO of Citigroup) to invest in credit intermediaries aligned with evolving financial markets.

Since 2014, Mr. Aiyar has been serving as Non-Executive Director of JM Financial Credit Solutions Ltd., a leading NBFC focused on alternative credit in India.

Mr. Vishal Kampani is the Non-Executive Vice Chairman of JM Financial Limited., the group’s flagship listed company. Mr. Vishal Kampani is the Managing Director of JM Financial Products Limited since September 15, 2015.

Mr. Kampani joined the JM Financial Group in 1997 in the Investment Banking Division and subsequently worked with Morgan Stanley Dean Witter & Co. in New York. Upon his return to India in 2000, Mr. Kampani joined JM Morgan Stanley (Joint Venture between JM Financial Group and Morgan Stanley) and headed the Corporate Finance vertical within the Investment Bank, managing client relationships for the firm.

Post 2008, Mr. Kampani played an instrumental role in identifying new growth opportunities and further diversifying the business of the JM Financial Group. He launched the distressed credit business through JM Financial Asset Reconstruction Company Limited and also led JM Financial Group’s foray into corporate, promoter and real estate financing. In 2014, he played a pivotal role in forging a strategic partnership with a global fund led by Mr. Vikram Pandit (ex-CEO of Citigroup) for real estate financing through JM Financial Credit Solutions Limited.

Mr. Kampani also strategized JM Financial Group’s foray into the housing finance business through JM Financial Home Loans Limited in 2017.
Mr. Kampani has been working extensively with Confederation of Indian Industry (CII) being a member of the CII National Council in addition to being the Co-Chairman of the CII National Committee on Financial Markets.

In a career spanning almost two and a half decades, Mr. Kampani has played a defining role in ideating and consummating several landmark and transformational M&A, fund raising and restructuring transactions. In addition, he was also responsible for JM Financial Group’s expansion and transforming the group into a diversified financial services player.

In 2016, Mr. Kampani was recognized as a Young leader and awarded The Economic Times "40 under forty".
Mr. Kampani has completed his MS (Finance) from London Business School, University of London.

Ms. Dipti Neelakantan retired in mid 2019 as Group Chief Operating Officer and part of the Firm Management at JM Financial Group. She has nearly four decades of professional experience in the financial and capital markets. Ms. Neelakantan joined the JM Financial group in the year 1981 as a trainee and grew in various disciplines and position.

Her bouquet of experience consists of various capacities, locations and disciplines spanning across corporate governance, risk management, financial structuring, end to end delivery of capital market transactions, mergers and acquisition advisory, non-banking financial activities, active engagement for regulatory approvals, syndication, compliance, stock broking, fund management, sales and distribution of financial products.

Having been a director of various companies in JM Financial group for several years, she has a deep understanding of Board procedures, responsibilities and governance angles as well as corporate risk management.

During her career, she has been actively engaged with various policy makers including SEBI and RBI for development of regulatory framework and continuous reforms in financial and capital markets.

She has been a member of various committees of SEBI. She is also a member of FICCI’s Capital Market Committee and CII’s National Committee on Financial Markets.
 
Ms. Neelakantan is a fellow member of the Institute of Company Secretaries of India and a graduate in Commerce from Sydenham College, Mumbai.

Mr. Hemant M. Kotak is a graduate from Sydenham College of Commerce & Economics, Mumbai and is a Fellow Member of the Institute of Chartered Accountants of India and an Associate Member of the Institute of Cost Accountants of India. He has over 30 years of experience with Capital market experience of 28 years and started his career with The Tata Oil Mills Co. Ltd. after which he joined JM Financial Limited. (erstwhile J.M. Share & Stock Brokers Ltd) in 1992. Currently Mr. Kotak is on the Board of JM Financial Services Limited since January 27, 1999.

Mr. Parthiv T. Kilachand has been associated with Polychem Limited, in various capacities from November 1, 1988 and is actively involved in its management. He was appointed to the Board of Directors in December 1996 and was later appointed Managing Director in 2012 and he continues to be the managing director of Polychem Limited as on date. Polychem is listed and manufacturers speciality chemicals. 

Mr. Kilachand was the co-owner and Chairman of Connell Brothers Co. (India) Pvt. Ltd. (a joint venture with Wilbur-Ellis from the US) for 22 years. It imports and sells speciality chemicals and ingredients to Indian businesses and is one of the larger speciality chemical distribution companies in India.

He was the co-promoter of International Distillers India Ltd. which manufactured alcoholic beverages in India in JV with IDV (now Diageo). He was one of the Directors on the Board for over 8 years. He was the Executive Director of Gujarat Poly Electronics Ltd. from 1990. Gujarat Poly Electronics Ltd. is a listed company which had a joint venture with AVX/ Kyocera of USA/ Japan. The company manufactures, imports and distributes multilayer ceramic capacitors. Mr. Kilachand was in charge of the company’s operations as its Executive Director for 10 years where he remains a Director.  

He was also on the Board of JSM corporation for 8 years. The company is engaged in the restaurant business. He is co-promoter of Tulsi Global Logistics which runs Bonded Warehouses and BIO alcoholic beverage logistics. Mr. Kilachand is a member of the Young Presidents Organization, Entrepreneurs Organisation, on Board of Trustees of KD (charitable) Foundation. He is also director on the Board of other companies which include Ginners & Pressers ltd., JK Investors (A Raymond Group Co.) & Ring Plus Aqua (A Raymond Group Co.), JM Asset Management, JM Financial Services and JM Capital.

Mr. Kilachand has studied at Eton College, UK and Brown University USA and his qualifications are Sc.B “Electrical Engineering” & A.B. “Engineering & Economics”.

Mr. Prakash Parthasarathy is the Managing Partner at Chief Investment Officer of Creaegis, which manages and advises families, their philanthropic institutions and global endowments and fiduciary institutions on long term investment initiatives.  

Mr. Prakash Parthasarathy is currently a Member of the Board in FabIndia, an ethical lifestyle retailer; and, Manipal Global Education Ltd., global education and talent transformation provider with campus and online operations in India, US, ASEAN and the GCC regions.

Prior to Creaegis, Mr. Prakash Parthasarathy was the founding Managing Partner & Chief Investment Officer of PremjiInvest, an investment office serving Azim Premji (Chairman, Wipro) and his Foundations. Mr. Prakash Parthasarathy joined as the founding CIO of PremjiInvest in 2006 and was responsible for the firm’s strategy and operations across all asset classes in India, China and the US and led the Investment Committee of the firm. The firm pursued a direct investment strategy across its pubic and private equity strategies with a view to hold assets for the long term. With offices in India, Singapore and the US and a staff of 40 professionals and operating partners, the firm managed over USD 4 billion in assets.

Prior to Premji Invest, Mr. Prakash Parthasarathy spent over a decade in operating and advisory roles. He was previously an Executive Vice President with iGATE Global Solutions, and prior to that with Quintant, Inc. which was acquired by iGATE.

He was earlier at Montgomery Securities and Robertson Stephens (both acquired by Bank of America) as Principal & Senior Research Analyst based in San Francisco. In a previous role as Vice President, he developed the firm's Technology Investment Banking franchise in Asia, based in Hong Kong. Prior to that, Mr. Prakash Parthasarathy was Senior Research Analyst at Peregrine Capital, responsible for India and Asia technology sectors.

He holds a Post Graduate degree in Management from Indian Institute of Management, Bangalore and a B. Tech. degree in Computer Science from BITS, Pilani.

Mr. Negandhi began his career as an Analyst in 2005 and advanced to become one of the youngest MD’s in the industry in 2014. In his 18-year career span, he has been consistently recognized as one of the foremost real estate and media analysts by leading financial journals and brings in leadership expertise in capital markets, equity research and valuation. Mr. Chirag Negandhi is also recipient of the prestigious ‘40 under 40’ award by the Economics Times. He holds a Bachelor’s degree of Business Administration, Finance, General from Purdue University.

During this tenure with Axis Capital, he has continued to set new benchmarks by raising USD 60bn+ equity for India Inc’s top tier. He has also lead some of the India’s largest equity raises and had worked closely with businesses such as Reliance, Larsen & Tubro, Aditya Birla, Godrej, Raheja etc.

Mr. DimpleKumar Shah is an Associate member of the Institute of Chartered Accountants of India with a background in Commerce and also hold degree of Cost and Work Accountants (ICWAI).

Mr. Shah, having 27 years of experience in Stock Broking and Financial services and heading Equity Brokerage business of JM Financial Services Limited since 2005, also spearheads the offline and online broking business of the Company through different verticals and product basket. 

Prior to joining JM Financial Services Limited, Mr. Shah, was associated with Anagram Stock Broking Limited where he was Whole Time Director and Oversaw business development and branch expansion and was instrumental in setting up functional branches in a short period of time.

Mr. Gandhi possesses 34 years of experience in the financial markets arena. He has handled the Equity Broking, Depository, Primary Markets, NBFC, Wealth Management Operations, Legal Matters, Information Technology and Regulatory Compliances. He has been associated with the Capital markets since November 1989.  

Before his association with JM Financial Services Limited, Mr. Gandhi has worked with various financial organizations in several capacities. His various professional tenures have enabled him to gain deep expertise and thorough understanding of the financial markets.

Mr. Gandhi is a qualified Chartered Accountant from India, a Certified Management Accountant from CMA (USA), CMA (Australia) and CGMA (CIMA UK) besides being Certified Public Accountant (CPA) from Australia and USA (License Awaited). He is also an alumni of the Indian Institute of Management (IIM), Kolkata having completed the Executive Education in Planning and Leadership and Management from the Indian Institute of Management (IIM), Kolkata.

Mr. Gandhi is on the Board of Directors of the Broking Industry Associations viz; Association of Exchange Members of India (“ANMI”), BSE Brokers Forum, Chairman of the SEBI and Exchange Committee of ANMI and is a broker public member on the SEBI mandated Clearing Corporation Committee at National Clearing Corporation.

Mr. Gagan Kothari is the Chief Financial Officer of JM Financial Services Limited and a qualified Chartered Accountant with over 20 years of experience within the JM Financial Group. 
 
In his recent role as Chief Operating Officer of JM Financial Limited, he focused on strengthening integration across capital market businesses, enhancing operational efficiency, and driving cross-platform synergies across the Group. Prior to this, he served as the Chief Financial Officer of JM Financial Credit Solutions Limited, the Group’s wholesale and structured credit NBFC, for over a decade. During his tenure, he played a pivotal role in partnering with boards, investors, lenders, and regulators, while contributing significantly to the company’s financial strategy and governance framework.
 
Mr. Kothari is a member of the Group Asset Liability Management Committee (Group ALCO) and actively contributes to investor relations initiatives across the Group. His expertise spans finance and strategic planning, treasury management, regulatory and investor reporting, corporate governance, compliance management, stakeholder engagement, MIS and financial controls, consolidation of accounts, listed company compliance, and the establishment of Alternative Investment Funds (AIFs).
 
He has also been closely involved in private and pre-IPO equity transactions, where he helped build institutional frameworks for investment sourcing, due diligence, structuring, execution, and risk management in unlisted investments. Additionally, he has played an important role in expanding the Group’s international presence and operations.
 

Mr. Malav Shah is a qualified lawyer and Company Secretary with approximately 20 years of experience in the securities and capital markets sector, along with expertise in legal, compliance, and company secretarial functions.

He currently serves as the Company Secretary and Compliance Officer at JM Financial Services. Prior to this, he was the Head of Legal and Compliance at National Securities Depository Limited from January 1, 2021. He has also held senior roles at leading law firms, including Counsellor at Khaitan & Co. and Principal Associate at J. Sagar Associates, where he led numerous transactions and advisory assignments across various industries.

Mr. Shah holds multiple professional qualifications, including a Master’s degree in Business Law, LL.B., Company Secretary and M.Com among others.

Mr. Hariharan Aiyar is a seasoned financial professional with a strong foundation in investment banking, private equity, and alternative credit. A magna cum laude graduate of Columbia University (A.B., 1990) and an MBA with Distinction from Harvard Business School (1995), Mr. Aiyar began his career at Morgan Stanley in New York.

In the early '90s, he played a pioneering role in building Corporate Finance Coverage for Indian entities and led the first GDR issuance for Reliance Industries. Post-Harvard, he returned to Morgan Stanley to manage Emerging Markets Special Situations and later founded the Strategic Trading Initiatives and Investments Group—spearheading investments in Electronic Markets, Asset Managers, and Financial Technology Platforms including Algorithmics, BRUT LLC, PHLX, and ISE.

In 2005, Mr. Aiyar became Managing Partner of the Indian Advisor to Citigroup Alternative Investments/Napier Park, overseeing investments in infrastructure and real estate through the Old Lane India Opportunities Fund. He later co-founded First Finance with Vikram Pandit (former CEO of Citigroup) to invest in credit intermediaries aligned with evolving financial markets.

Since 2014, Mr. Aiyar has been serving as Non-Executive Director of JM Financial Credit Solutions Ltd., a leading NBFC focused on alternative credit in India.