Dr. S.N. Ghosh

Adjunct Professor and Senior Consultant,
DEA-AJNIFM Research Programme
Ministry of Finance, Government of India

He is a distinguished professional with extensive expertise in regulatory finance, corporate governance and Commercial laws. He is Adjunct Professor and Senior Consultant- Research Program associated with DEA-AJNIFM(Civil Services Training Institute) under Ministry of Finance, Govt. Of India. With around five decades of multifaceted professional experience across various sectors, he has consistently contributed to policy formulation, research, and knowledge dissemination in India’s financial and regulatory frameworks. His illustrious career spans across academia, government advisory roles, and corporate leadership, making him a thought leader in financial markets and regulatory reforms.
He is a Law veteran having specializations in Company, Securities and Labour Laws in India
and internationally. He holds FCS(India), ACMA(India) ACISI(UK),ACIS(UK),LLB, LLM,
Ph.D. etc. with many rank holding merits with Science background.
He qualified for UPSC Civil Services in 1975 and worked with Govt. Of India before switching to corporate and academics. Coming from a generation of bureaucratic family, his father an Ex- IAS Officer, had served as a Secretary to the Govt. Of India.

Key contributions:
His tenure at the DEA-AJNIFM Research Programme has led to numerous seminal contributions, significantly impacting India’s financial and regulatory landscape. Some of his key policy research areas include:

  • Remonetization of High-Value Currency Notes in India
  • Financial Redressal Mechanism and Recovery of Unclaimed Private Property – Across Sectors
  • FinTech, RegTech, and SupTech Innovations
  • Aadhar-enabled e-KYC for Regulatory Compliance
  • Framework for Regulatory Impact Assessment in financial markets
  • Unified Regulatory Framework in IFSC-GIFT City
  • Regulatory Impact Assessment and SEBI’s Market Oversight
  • Reforms in Investor Grievance Redressal Mechanisms
  • Harmonization of the Companies Act with Securities Laws
  • Direct Market Access for Retail Investors in India
  • Rationalization of Incentives for Financial Product Distributors

Knowledge Sharing & Leadership in Conferences:
He has been at the forefront of organizing and contributing to international conferences and roundtable discussions with high-level stakeholders from the World Bank, domestic and international regulators, and academic experts. Some notable events include:

  • Single Securities Markets Code
  • Investors’ Charter
  • Emerging Perspectives in FinTech
  • Policy and Regulatory Framework for Algorithmic and High-Frequency Trading
  • Integration of Commodities Markets in India

He has also delivered special lectures on various regulatory issues, regularly addressing national and international seminars, workshops, and management development programs for senior bureaucrats, corporate executives, military officers and other industry bodies like FICCI, Stock Exchanges e.g. NSE etc.

Publications & Thought leadership:
His scholarly contributions are well-regarded, with numerous publications in leading academic journals and industry magazines. His works span topics like corporate governance, consumer protection, securities regulation, and investor activism.

Academic & Professional Engagement:
Visiting Faculty – Indian Law Institute, National Academy of Legal Studies and Research (NALSAR), National Law University (NLU), Delhi, and others.
Senior Mentor – National Institute of Smart Government, Govt. Of India
Adjunct Professor – National Institute of Financial Management (NIFM), Ministry of Finance.

Corporate & Legal expertise:
His rich experience in the corporate world includes serving as Executive Director (Finance & Legal) and Company Secretary for a prominent public listed conglomerate. He has successfully led finance and legal functions, handled corporate litigation, and contributed to major regulatory reforms in the corporate sector.

Arvind Mathur, CFA, FRM

Asia’s Pioneer in Private Equity.
Chairman , Private Equity Pro Partner.
Former President, IVCA ( Indian Venture and Alternate Capital Association).
Former Head- Capital Markets, Asian Development Bank

He is a member of the Independent Advisory Committee of a portfolio institution of a $14 billion New York-based special situations fund. He is also the Chairman of Private Equity Pro Partners.

Arvind gained exposure to ESG, impact and sustainability principles at the Asian Development Bank. He led a team investing in private equity funds which gave him the opportunity to integrate ESG and impact principles in the investment activities of several funds and in the ADB’s own equity investments in several portfolio companies.

Arvind authored various articles on corporate governance as well as engaged with leading pension funds such as CalPERS, CDPQ and the BT pension funds to promote corporate governance.

He gained experience in leading two associations, namely the Impact Investors Council and the Indian Venture Capital & Private Equity Association (IVCA).

Arvind has over 40 years of experience in a wide range of asset classes globally including listed equities, private equity, fixed income, convertibles & and real estate. His experience spans the US to emerging markets during multiple economic cycles.

He has also served on the SEBI Committee on Alternate Investment on Mr. Narayan Murthy Panel.

He co-invested with sovereign wealth funds like GIC, Temasek, the Abu Dhabi Investment Authority & the Brunei Investment Authority. He interacted with the State Oil Fund of Azerbaijan and several central banks like the Bank of Korea, the Bank of Japan, and the Monetary Authority of Singapore.

Arvind’s experience encompasses both fund and direct investing. He has been a member of Investment Committees and fund boards and the global pension fund of the Asian Development Bank (ADB). He worked with Limited Partners such as ADB, the IFC, CalPERS, La Caisse de Depot et Placement du Quebec, the Prudential Insurance Corporation & leading institutional investors in Australia, Singapore, Malaysia, and India. Arvind promoted corporate governance in these funds, particularly those involving CalPERS. He authored articles on corporate governance and attended courses at the Columbia Business School and that of Cornell University & an investment course at the Harvard Business School. Arvind has undergone a variety of training including investment banking at Goldman Sachs & Citi in New York and in capital market regulation at the US Securities & Exchange Commission etc. He holds CFA and FRM.

Prof. Prabhat Ranjan

Vice Chancellor, D Y Patil International University
Ex-Head, TIFAC- Delhi
Indian Govt.Technology Think Tank
Chairman, AICTE IDEA Lab.
Chairman of a Brain Computer Interface committee of Bureau of Indian Standards.

Prof Prabhat Ranjan is currently Vice Chancellor of D Y Patil International University, Akurdi, Pune. He is a Nuclear Fusion Scientist, a Futurist, an Educator, an Innovator and a Science Communicator. He obtained his PhD from University of California, Berkeley and did college education from IIT Kharagpur and University of Delhi after schooling from Gurukul style Netarhat School near Ranchi.

After working in national labs(e.g. Lawrence Berkeley Lab)for nearly two decades in US and India on Nuclear Fusion, he served as Professor at DA-IICT, Gandhinagar for 11 years. His remarkable innovative contributions include India’s Moon Mission, Wildlife, Assistive technology and Brain Computer Interface.

From 2013-18, he was heading India’s Technology Think Tank, TIFAC(Govt.Of India), Delhi where he was responsible for many national level policy document including “Technology Vision 2035”. Prof Ranjan is also author of a chapter titled “Emerging and Disruptive Technologies” in a book “Strategic Challenges: India in 2030” published by HarperCollins in Sept 2022.

Prof Ranjan has been responsible for setting up new age curriculum in his University that has led to change across country. He is Chairman of AICTE IDEA Lab scheme to set up digital fabrication facilities across country. He is also Chairman of a Brain Computer Interface committee of Bureau of Indian Standards. He is also advisor to a global investment banker to help transfer global technology to India.

He has received National Science Talent Search Award, IBM Faculty Innovation Grant, HP Innovate 2009 award, Bihar Gaurav Samman 2012, and NCPEDPMphasis Universal Design Award 2012. In March 2022, he was also honored with EduStar India’s Most Impactful Vice Chancellor Award for 2021-22.

He has been recognized among few visionaries by “Outlook”, who can lead India towards 5 Trillion Dollar Economy. He has been also honoured with Maharashtra Ratna Gaurav Puraskar by Shalini Foundation in 2024. He is also recognized among the top “100 Great IITians : Dedicated to the Service of the Nation”.

Dr. Suman Banerjee

Stevens Institute of Technology, NY,USA
Formely at Nanyang Business School (NTU),Singapore.

Dr. Suman Banerjee is an Associate Professor of Finance and the director of Ph.D. programs at the School of Business of the Stevens Institute of Technology. He was previously faculty at Asia’s leading NTU ,Singapore (Nanyang Technical University) School of Business and Finance. His research interests include theoretical modeling and empirical analysis with applications to areas of corporate finance such as corporate governance, behavioral corporate finance, risk management, and energy finance. Dr. Banerjee has published extensively in top-tier finance journals like Review of Financial Studies (RFS), Journal of Financial Economics (JFE), Journalof Finance and Quantitative Analysis (JFQA), Journal of Corporate Finance (JCF). Dr. Banerjee also published in top-ranked cross-disciplinary journals like Management Science (MS) and Journal of Business(JB). Dr. Banerjee received the Caeserea Award for the best paper in risk management from the prestigious Western Finance Association in 2002 and BankScope best paper award from the Australian Finance and Banking Conference in 2010. He was honored as a Junior Research Fellow by the Indian University Grants’Commission and Center for Advanced Studies Scholarship while pursuing a master’s degree at Delhi School of Economics. He has obtained several other merit-based awards in the course of his academic career. Dr. Banerjee is a lifetime member of the multiple finance-related national and international associations and the editor-in-chief of an open-access finance journal.He is also a knowledge-based consultant for Bloomberg Inc. and other reputed corporates.

Prof. Raphael Douady

Prof. Raphael Douady is a world- renowned quant, mathematician,statistician and economist specializing in data science, financial mathematics and chaos theory at the University of Paris I-Panthéon-Sorbonne. He formerly held the Frey Chair of quantitative finance at Stony Brook University and was academic director of the French Laboratory of Excellence on Financial Regulation. He earned his PhD in Hamiltonian dynamics and has more than 25 years of experience in the financial industry. He has particular interest in researching portfolio risks, for which he has developed especially suited powerful nonlinear statistical and data science models, as well as macroeconomics and systemic risk. He is the Mathematical Founder with Prof Nassim Taleb on Anti-Fragility Theory( in context of Black Swan , Extreme risks) and other industry training works. He has produced many original seminal works including New Non-Linear Polymodel approach to Factor Strategies as significant improvement to traditionally popular factor based approaches.

He also advises several quantitative hedge funds and family offices on their risks and trading strategies. Douady is a founding member of the Club Praxis, a New York-based think tank advising the French government on its economic policy and sits on the board and, previously on the investment committee, of Friends of IHES, a foundation supporting the Institut des Hautes Etudes Scientifiques (the French brother of Princeton IAS).He was awarded a gold medal at the International Mathematical Olympiads.

His father, Adrien Douady, a renowned mathematician (a close colleague and friend of Benoit Mandelbrot) known for works on Mandebrot set and Douady Rabit and others.

Professor Ravi Sundar Muthukrishnan (Ph.D, Finance)

Former Professor (Finance & Accounting) at IIM Lucknow
Currently Visiting Faculty at Leading IIMs & Management Schools
Co-Creator of Modelware, Morgan Stanley

Prof. Ravi Sundar has had an illustrious career across academia and corporates being mainly in academia till 2005 and then mainly in the corporate world since 2006. He held senior and important positions in leading global and Indian corporates like Morgan Stanley, ICICI Securities, Elara Capital and Antique Stock Broking.

As a Professor, Finance and Accounting, he taught postgraduate and doctoral students subjects like Financial & Management Accounting, Corporate Finance, Corporate Valuation, Corporate Restructuring and International Financial Reporting.  He also trained IAS, IPS, IES, IFS officers and senior management of many leading public sector enterprises ( ONGC, GAIL, Indian Oil, SBI, NTPC and BHEL) and private enterprises in India.  Published research in leading national and international journals and consulted for the Govt. of India and many companies.

At Morgan Stanley, he developed a global proprietary valuation framework “Modelware” for clients and use by Investment Banking and Equity Research Teams.  Worked closely with Professors from Columbia University in building this framework which is quite popular with Morgan Stanley and its clients even today across the globe.

As Head of Research at some of the leading Indian institutional brokerages, he has written on Market Strategy and done highly differentiated quant model-based thematic research which was highly appreciated by the leading Fund managers across India, many of whom are his past students. He has regularly interacted with leading CIOs and Fund Managers and shared ideas on equity valuation, stock selection and portfolio management and even done some training programs for Fund Managers of some leading Mutual Funds.

He has also regularly met with CEOs and senior management of companies to share ideas and work closely with them.  In the recent past, he has addressed the top management/consulted for companies like M&M, Mahindra Finance, Persistent Systems, Minda Group, Midhani, Motherson Sumi and Mahindra Logistics.

Alla Gil

Co-Founder & CEO, Straterix
Ex- Global Head, Strategic Advisory – Goldman Sachs, Citigroup, and Nomura

Alla Gil is co-founder and CEO of Straterix, which provides unique scenario tools for strategic planning and risk management.

Prior to forming Straterix, Alla was the global head of Strategic Advisory at Goldman Sachs, Citigroup, and Nomura, where she advised financial institutions and corporations on stress testing, economic capital, ALM, long-term risk projections and optimal capital allocation.