Agenda

Mr. Nehal Vora is the Managing Director and Chief Executive Officer of Central Depository Services (India) Limited (CDSL), India's largest depository by number of demat holders and the first listed depository in Asia-Pacific region. He brings a uniquely comprehensive view of India's securities market, shaped by leadership experience across the regulator, market infrastructure institutions, and the brokerage ecosystem. This multi-lens exposure forms the foundation of his work in building transparent, trusted and resilient market infrastructure.

With over three decades in the securities industry, Mr. Vora has held pivotal roles that span conduct, governance, risk management and market integrity. Mr. Nehal Vora has driven transformative growth at CDSL since September 2019, overseeing it become the custodian for over 17 crore demat accounts (as of December 31, 2025). His leadership foundations were shaped at DSP Merrill Lynch, a leading brokerage and investment banking franchise, where he led Law and Compliance and later steered the firm's compliance function across its India operations. The role provided global exposure to regulatory standards and investor protection frameworks. In 2008, he received the firm's prestigious "OGC Living the Mission" award, becoming the first Indian to be honoured with this global recognition.

In 2009, he joined BSE as part of a transformation-driven leadership team tasked with modernising a 125-year-old institution. As Chief Regulatory Officer, he played a central role in strengthening governance, regulatory compliance and market integrity. His tenure coincided with milestone events such as the IPOs of both BSE and CDSL, offering him strategic insights into the evolution, scalability and stewardship of India's market infrastructure institutions.

Mr. Vora also spent a decade at the Securities and Exchange Board of India (SEBI), where he played a key role in shaping regulatory frameworks and strengthening market oversight. His deep engagement with SEBI continues through his active participation in several of its committees and advisory groups. He works closely with several SEBI committees and advisory groups. He chairs the Working Group under the Market Data Advisory Committee (MDAC) for Secondary Markets and serves on the FPI Advisory Committee, Market Data Advisory Committee, Corporate Bonds and Securitization Advisory Committee (CoBoSAC), and the Secondary Market Advisory Committee (SMAC). His perspective also extends to the international domain through his role on the IFSCA Expert Committee on Secondary Markets. Additionally, he is a member of the Advisory Council of NISM.

Under his leadership, CDSL has delivered strong institutional outcomes, reinforcing its position as India's largest and most trusted depository. The organisation has earned over 30 awards, out of which more than 12 are of a global stature - for digital innovation, cybersecurity excellence, operational resilience, investor education, CSR efforts, and governance leadership. These recognitions include "CSD of the Year 2025" by Asset Servicing Times, "Market Infrastructure of the Year" at the 8th Regulation Asia Awards for Excellence 2025, "Best Organizations for Women 2025" in ET Now's Coffee Table Book edition, and the National Award for Excellence in CSR and Sustainability for "Best Use of CSR Practices - Capital Market Sector."

Shri. Gurumoorthy Mahalingam has had a professional career of more than four decades spanning across the financial sector regulators, the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI). He has taken on varied roles in RBI encompassing financial market development, regulation and operations, foreign exchange reserves management, debt management, and regulation and supervision of banks. He was the Chief Dealer and Executive Director in-charge of forex market interventions as well as management of forex reserves of the country and rupee liquidity policy and operations. In the above roles, he was instrumental in formulating regulatory policies in respect of financial markets and the conduct of market operations of RBI. His experience spans across most difficult and volatile times in the financial markets, such as the Global financial crisis, European debt crisis (2011-12) as well as the taper tantrum (2013-2016). He was closely involved in giving shape to foreign exchange policies and monetary policy implementation.

In his role as a Whole-time Board Member of SEBI (between 2016 and 2021), which carried Executive responsibilities as well, he has had a wide experience regulating Mutual Funds, Stock exchanges, Listed companies, foreign portfolio investors, corporate governance aspects, stock and derivatives markets, corporate bond market, amongst others. He has supervised the conduct of investigations and enforcement actions in regard to violations of securities laws and regulations. He was a quasi-judicial authority for a little over 500 cases involving market misdemeanors. He is currently chairing the SEBI Advisory Committees on Secondary Markets and Corporate Bond Markets. While being in RBI and SEBI, he was associated with important committees in the area of forex markets, financial benchmarks, corporate bond markets, etc.

Mahalingam is currently an independent Director in the boards of the largest insurance company in India, a private sector bank, a pension fund, a credit rating agency, a depository, amongst others.

Mahalingam began his career as a commercial banker with the State Bank of India in 1978 after finishing his Master's in Statistics and Operations Research from IIT Kanpur. He is also an MBA in International Banking and Finance from the Birmingham Business School in the UK.

Shri Gurumoorthy Mahalingam is also on the board of the following companies and body corporates:

• Director - Life Insurance Corporation of India
• Director - City Union Bank Limited
• Director - Care Ratings Limited
• Director - India International Bullion Exchange IFSC Limited
• Director - DSP Pension Fund Managers Private Limited
• Director - Care Ratings Limited Nepal
• Director - Thomas Cook (India) limited

Mr. Tuhin Kanta Pandey took charge as Chairman, Securities and Exchange Board of India in Mumbai on March 01, 2025.

Mr. Pandey is an IAS Officer of Odisha Cadre belonging to 1987 batch. Before joining SEBI he served as Union Finance Secretary, Revenue Secretary and Secretary, Department of Investment and Public Asset Management (DIPAM), Secretary, Department of Public Enterprises and Secretary, DOP&T.

Mr. Pandey has held many significant positions in Union Government and State Government of Odisha, in addition to serving a stint in the Regional Office of the United Nations Industrial Development Organisation (UNIDO).

In the Union Government, his previous organisations include Planning Commission (Now Niti Aayog), Cabinet Secretariat and Ministry of Commerce.

In State Government of Odisha, he served as administrative head in the Departments of Finance, Health, General Administration, Commercial Taxes and Transport.

In his career spanning over more than three decades, Mr. Pandey has wide experience in the areas of Economy and Finance, Industrial Development, Tax policy and administration and has been instrumental in bringing about several institutional innovations, new policies and systems in the Departments he has served.

He holds a Masters Degree in Economics from Panjab University, Chandigarh and Master of Business Administration from the University of Birmingham (UK).

Current Board Memberships

Mr. Mistry currently serves as the Non-Executive Chairman of:

• HDFC Life Insurance Company Limited
• HDFC ERGO General Insurance Company Limited

Additionally, he is a Director on the Boards of:

• HDFC Bank
• Tata Consultancy Services Ltd.
• Flipkart Private Ltd. (Singapore)
• The Great Eastern Shipping Company Ltd.
• HDFC Capital Advisors Ltd.
• Brookprop Management Services Pvt. Ltd.
  [Acting as a Manager to Brookfield India Real Estate Trust]

Current Advisory Roles and Committee Memberships

• Chairman - Primary Market Advisory Committee (PMAC), Securities and Exchange Board of India (SEBI)
• Senior Advisor - Ontario Teachers' Pension Plan (OTPP), Canada
• Strategic Advisor - Cyrus Poonawalla Group's Financial Services Ventures
• Advisor - Nish Capital (Kedaara)
• Senior Advisor - Witkopeend BV, Netherlands (an EQT Group)
• Consultant - Jones Lang LaSalle Property Consultants (India) Pvt. Ltd.
• Advisory Board Member - PwC India and Axis Mutual Fund (Real Estate)
• Advisory Board Member - The Chambers [Taj Hotels]
• Co-Chair - B20 South Africa 2025 Task Force on Integrity and Compliance
• Member - SEBI Advisory Committee on Listing Obligations and Disclosures (ACLOD)
• Chairman - Governance Committee, Corporate Debt Market Development Fund, SBI Fund Management Ltd.
• Chairman - FICCI Capital Markets Committee (specialized sub-group on Debt)
• Member - Standing Committee on Primary Markets, International Financial Services Centres Authority (IFSCA)

Charitable and Educational Institutions

Position	Institution
Honorary Trustee	H T Parekh Foundation
Advisory Board Member	Masina Hospital
Honorary Trustee	Vidya Niketan Education Trust [Kalpana Chawla Space Acadamy]

Other Asssociations

	Institution
Family Office	KATB Consultant Pvt. Ltd.

Recognitions and Awards

Mr. Mistry has been honoured with several prestigious awards, including:

• Legasis "Compliance Crusader" Award (2025)
• Hall of Fame Award (2022) - Institute of Chartered Accountants of India (ICAI)
• Lifetime Achievement Award (2020-21) - Financial Express Best Banks Awards
• Lifetime Achievement Award for Corporate Governance (2020) - Asian Centre for Corporate Governance and Sustainability
• CEO of the Year - BFSI Category (2019) - CNBC Awaaz CEO Awards
• BMA Management Man of the Year (2016) - Bombay Management Association
• Best Independent Director Award (2014) - Asian Centre for Corporate Governance and Sustainability
• Best CEO - Financial Services (Large Companies) (2014) - Business Today
• CFO India Hall of Fame (2012) - CFO India Magazine
• Best CEO for Investor Relations - India (2012) - Thomson Reuters Extel Awards
• Best Banker of the Year (2011) - Financial Express
• QIMPRO Gold Standard Award - Business Quality Leader (2011) - Qimpro Foundation
• CA Business Achiever of the Year - Financial Sector (2011) - ICAI
• Best CFO - Financial Services (2008) - ICAI
• Best Performing CFO - Financial Services (2006, 2007, 2008) - CNBC TV18
• Best Investor Relations Officer (2008) - Asiamoney Corporate Governance Poll

Professional Summary

A Chartered Accountant from the Institute of Chartered Accountants of India (ICAI), Mr. Mistry brings over four decades of experience in Banking and Financial Services.

Early Career (1975-1981)

• AF Ferguson and Co. (now merged into Deloitte)
• Hindustan Unilever Ltd.
• Indian Hotels Company Ltd.

HDFC Ltd. (1981-2023)

• Joined HDFC Ltd in 1981
• Board Induction as Executive Director in 1993
• Managing Director (2000)
• Vice Chairman and Managing Director (2007)
• Vice Chairman and CEO (2010)
• Following the amalgamation of HDFC Ltd with HDFC Bank, he retired from HDFC Ltd in 2023 and now serves as Non-Executive Director on the Board of HDFC Bank.

Throughout his tenure, Mr. Mistry played a pivotal role in transforming HDFC into India's leading financial services conglomerate. He was instrumental in establishing:

• HDFC Bank Ltd.
• HDFC Asset Management Company Ltd.
• HDFC Life Insurance Company Ltd.
• HDFC ERGO General Insurance Company Ltd.

Past Committee Memberships

• Chairman - SEBI Sub-Group on SEBI Buyback Regulations
• Chairman - SEBI Sub-Group on Disclosures for Institutional Investor Meetings, Analyst Meets and Conference Calls
• Chairman - SEBI Sub-Group on Reverse Book Building and Stock Exchange Delisting Framework
• Chairman - CII National Council on Corporate Governance (2016-17, 2017-18, 2019-20, 2021-22)
• Member - CII Economic Affairs Council (2022-23, 2023-24)
• Member - SEBI Kotak Committee on Corporate Governance (2017)
• Consultant - Commonwealth Development Corporation (CDC) in Thailand, Mauritius, Caribbean Islands, Jamaica
• Consultant - Mauritius Housing Company and Asian Development Bank

Shri Sandip Pradhan has taken charge as Whole Time Member, Securities and Exchange Board of India (SEBI) in Mumbai on December 04, 2025. Prior to joining SEBI he was Director General of Income Tax (Investigation) in Pune.

Shri Pradhan handles Market Intermediaries Regulation and Supervision Department, Alternative Investment Fund and Foreign Portfolio Investors Department, Information Technology Department, Office of Investor Assistance and Education and National Institute of Securities Market.

Shri Pradhan is a B. Tech in Computer Science from IIT Kanpur.

In his career spanning over more than three and half decades he worked in various capacities in Income Tax Department and handled verticals like investigation, assessment, administration, judicial matters, systems, etc. across Ahmedabad, Surat, Mumbai and Pune.

He also contributed significantly for development of Sports in India being Director General, Sports Authority of Gujarat, Member Convener of Olympic Task force formed by the Government of India and Director General, Sports Authority of India.

As a Sports Administrator, he spearheaded Khelo India Scheme and Target Olympic Podium Scheme (TOPS).

Mr. Tuhin Kanta Pandey took charge as Chairman, Securities and Exchange Board of India in Mumbai on March 01, 2025.

Mr. Pandey is an IAS Officer of Odisha Cadre belonging to 1987 batch. Before joining SEBI he served as Union Finance Secretary, Revenue Secretary and Secretary, Department of Investment and Public Asset Management (DIPAM), Secretary, Department of Public Enterprises and Secretary, DOP&T.

Mr. Pandey has held many significant positions in Union Government and State Government of Odisha, in addition to serving a stint in the Regional Office of the United Nations Industrial Development Organisation (UNIDO).

In the Union Government, his previous organisations include Planning Commission (Now Niti Aayog), Cabinet Secretariat and Ministry of Commerce.

In State Government of Odisha, he served as administrative head in the Departments of Finance, Health, General Administration, Commercial Taxes and Transport.

In his career spanning over more than three decades, Mr. Pandey has wide experience in the areas of Economy and Finance, Industrial Development, Tax policy and administration and has been instrumental in bringing about several institutional innovations, new policies and systems in the Departments he has served.

He holds a Masters Degree in Economics from Panjab University, Chandigarh and Master of Business Administration from the University of Birmingham (UK).

Avneesh Pandey is Executive Director, Information Technology at Securities and Exchange Board of India (SEBI).

He has about three decades of securities market regulatory experience in covering vide range of IT initiatives including business process innovation, big data analytics, SupTech, Cyber security, IT audits and inspection etc. He sees himself as a technology strategist, process innovator and cyber security evangelist.

He has obtained MPhil in Technology Policy from the University of Cambridge, UK, and has been an ADB-Japan Scholar for management studies at Asian Institute of Management, Manila, Philippines.

Akhilesh Tuteja is a visionary leader at the forefront of digital transformation. Akhilesh is a distinguished partner and a key member of the India Leadership Team. Renowned for his strategic prowess in leveraging innovative technologies, he empowers organizations to achieve significant and measurable business outcomes through effective digital strategies.

With a dedicated focus on driving impactful change, Akhilesh has guided over 200+ clients in realizing substantial advantages through technology. His expertise lies in IT strategy and AI-driven technology selection, enabling organizations to harness the full potential of intelligent automation and data-driven decision-making. Akhilesh's deep understanding of behavioral psychology provides a unique perspective in holistically assessing and mitigating the multifaceted risks associated with digital adoption, particularly through the strategic application of user behavior analytics to optimize operational efficiency and user experience.

Celebrated as a prominent thought leader in the digital ecosystem, Akhilesh is a passionate advocate for its transformative potential of technology across diverse sectors. His insightful perspectives on the strategic application of AI and digital initiatives in accelerating transformation journeys have established him as a respected voice in the community. As a sought-after expert, he actively contributes to industry discussions, shares his deep knowledge, and collaborates on initiatives that are shaping the future of business through intelligent solutions.

Akhilesh's unwavering commitment to innovation and his visionary approach to seamlessly integrating advanced technologies into core business strategies position him as an invaluable asset and a key driver in the evolving landscape of digital transformation. His insights promise to offer profound value to any audience seeking to understand and capitalize on the power of technology.

Riyaz Ladiwala is the Group Chief Operating Officer at Neo Wealth and Asset Management, where he is shaping the future of wealth and asset management through technology, scale, and human-centered design. With nearly three decades of experience, Riyaz has built his career on one core belief: when technology is used with purpose, it can fundamentally transform how trust, capital, and opportunity flow through the financial system.

From helping create India's earliest digital investment platforms to leading some of the country's largest wealth and asset management transformations, Riyaz has consistently been at the forefront of change. He has designed and scaled platforms that serve over a million clients, process billions of transactions, and support multi-billion-dollar businesses - all while setting new benchmarks for resilience, efficiency, and client experience.

At Nuvama and Edelweiss, he led enterprise-wide reinvention, enabling organizations to grow exponentially without proportionate increases in cost or risk. Today at Neo, Riyaz is driving next-generation initiatives in AI, data, and digital platforms that are redefining how clients understand, engage with, and benefit from their wealth.

Recognized across Asia as a leader in WealthTech innovation, Riyaz is a sought-after speaker and advisor to industry forums, regulators, and global financial institutions. His work continues to focus on one enduring mission: building financial systems that are intelligent, scalable, and deeply aligned with client purpose.

Sashi Sreedharan is an accomplished executive currently serving as the Managing Director of Google Cloud India, based in Bengaluru. His extensive experience includes leading global technology organizations, notably as the Chief Operating Officer of Google Cloud APAC since September 2023.

Prior to his roles at Google, Sashi was the Managing Director of Microsoft India, where he spearheaded the Enterprise Commercial Business. His leadership was instrumental in driving significant growth and positioning Microsoft as a leader in the Indian enterprise market.

Earlier in his career, Sashi held the position of CEO and Managing Director at Happiest Minds Technologies. He also served as Vice President and Managing Director at CSC overseeing its India operations. Before CSC, he was Vice President and Managing Director at SAP, responsible for global delivery of SAP Consulting Services across centers in India, China, and LATAM.

Beyond his executive roles, Sashi is dedicated to mentoring young companies, serving on multiple startup boards. In his personal life, he is an avid automotive enthusiast and a wildlife photographer.

Rahul is the Chief Technology Officer at SBI Funds Management Ltd. He brings over 27 years of experience in Information Technology across Asset Management, Banking, and Technology sectors, with deep expertise in shaping enterprise technology strategy and driving large-scale technology transformation. His leadership spans across modernizing core platforms, software development, data platforms, and accelerating AI/ML adoption.

He has built large in-house engineering teams as well as established Centers of Excellence for data and AI/ML.

Rahul has previously held leadership positions at LTI, RBL Bank, Aditya Birla Sun Life Mutual Fund, and Whiteoak Capital Mutual Fund. In addition, he has been a member of the AMFI Technology committee where he has played a pivotal role in shaping technology and digital initiatives for the AMC industry.

Shri Sunil Jayawant Kadam took charge as Executive Director, Securities and Exchange Board of India on July 1, 2025. The departments under him are: Office of Investor Assistance and Education (OIAE), Department of Economic and Policy Analysis (DEPA), Board Cell, RTI and PQ Cell and matters relating to National Institute of Securities Markets (NISM).

Prior to his promotion as Executive Director, Shri Kadam was Chief General Manager in SEBI and has handled several assignments in SEBI since joining SEBI in 1996. Shri Kadam has served in various Departments including as Registrar at the National Institute of Securities Markets.

Shri Kadam has dealt with several administrative as well as policy matters in various departments of SEBI and has been part of various committees.

Shri Kadam is a Master of Business Administration (MBA) from the University of Pune, and is a Postgraduate in Securities Law from Government Law College, Mumbai.

Mr. Rajesh Saraf brings with him more than 3 decades of experience in Indian Capital Markets and Information Technology areas with a focus on stock exchanges and depositories.

Rajesh has headed wide array of business-critical functions and strategic initiatives for stock exchanges and depositories. These include trading and business operations, settlement processing of depositories, investor demat account operations, market surveillance, investigation, regulatory compliance, market data, data analytics, implementation of complex IT projects and transformation initiatives.

In a career spanning across 32 years, Rajesh has served leading Market Infrastructure Institutions of Indian capital markets and business conglomerates such as BSE (formerly known as Bombay Stock Exchange), Central Depository Services (India) Limited (CDSL), National Stock Exchange of India, Tata Consultancy Services.

Rajesh is currently working as the 'Chief Data and Operations Officer' at CDSL and is a member of CDSL Executive Management team.

In terms of educational qualifications, Rajesh is an engineer and post-graduate in management studies.

Arun advises extensively on matters relating to complex intellectual property, telecom, e-commerce, data protection and privacy, including issues surrounding data collection, processing, protection and retention.

In addition to the formulation of policies and best practices designed to mitigate the legal risks associated with handling of data. He specialises in offering sector specific, cutting edge advice in relation to technology to clients who are exposed to increased industry specific risks.

He regularly advises on the intersection between business and emerging technologies. Arun advises both, international and domestic clients, on technology-related transactional and advisory matters across sectors ranging from banking, insurance, healthcare, internet and telecommunications to media and broadcasting. He regularly advices on large scale acquisitions of, or investments into, technology and data centric entities. Some of his key transactions in this regard include Equinix Acquisition of GPX's data center business in India, IronMountain's strategic investment into Web Werks India Private Limited and Adani's strategic relationship with Google.

His transactional work involves enabling complex technology procurement and outsourcing contracts, and software development and licensing arrangements. Recent key transactions have involved assisting Equinix Inc., Adaniconnex Private Limited, Tata Digital Limited, Hinduja Global Solutions Limited, Sequoia Capital, Warburg Pincus, SBI General Insurance and several large banks and financial services institutions and private equity investors in India with key technology transactions.

Suhas Tuljapurkar, the Compliance Man of India, is an acclaimed lawyer with an extensive experience of over 40 years. Being a member of Bar Council of Maharashtra and Goa, Suhas is authorised to practice law in India. Suhas acts as an independent advisor to various companies, governments, trade associations, professionals, celebrities, non-profit entities and start-ups. His key area of proficiency is Governance, Risk, Assurance, Compliance and Ethics (GRACE) with a fusion of information technology. Suhas is passionate about techno-legal innovations, visionary application of Game Theory to complex legal problems and de-mystifying the laws.

After a successful career as an in-house counsel and law firm partner, Suhas founded Legasis Services, India's first legal tech enterprise in the year 2006. At Legasis, Suhas has been instrumental in developing pioneering IT enabled legal support solutions such as Legatrix (Compliance Management Solution) StarBoards (Board of Directors' Evaluation Software), LIPs (IPR management solution), the Flute (Innovation Capture Solution), CARRAR (Contract Management Solution), Roznama (Litigation Management Solution), and LegRoom (Virtual Dataroom Solution). As a member of the Executive Committee of UN Global Compact Network India, Suhas was influential in developing ground breaking solutions comprising of Public Private Partnership framework for ensuring statutory compliance and for confirming transparency in procurement process in Smart Cities.

Suhas, in the capacity as the advisor to the Digital Crime Unit of the State of Maharashtra, developed IT enabled, knowledge driven content and workflows for initiating criminal actions against infringing websites.

He is invited by the government authorities to provide expertise in drafting several legislations on multiple occasions.

Suhas has efficaciously handled numerous international assignments such as international commercial arbitrations, multi-lateral agencies sanctioned proceedings, global collaborations and complex legal projects.

Suhas is a National School Residential Scholar and has been appreciated at global and national level with the award of many scholarships, honors and recognitions including the Udyog Ratan Award. He is a prolific blogger, an intellectual contributor to legal journals and is an applauded speaker.

Prof. Varsha Apte is a Professor in the Department of Computer Science and Engineering at IIT Bombay and served as the Head of the Department from May 2022 to May 2025. She completed her M.Sc. from Pune University in 1989, and PhD. from Duke University in 1994, both in Computer Science. After her PhD., she joined the Teletraffic Theory and Performance Analysis department in AT&T Bell Labs as Member, Technical Staff, which later became the Network Design and Performance Analysis department of AT&T Labs. She joined as faculty in the Computer Science and Engineering Department, IIT Bombay in 2002. During the academic years 2009-2011, she was on leave from IIT Bombay and Visiting Faculty at the Computer Science and Automation Department, Indian Institute of Science, Bangalore. While in Bangalore, she also worked at IBM Research Labs as part-time Visiting Researcher from June 2009-May 2010. From February 2016 to February 2019, she served as the Head of the Network and Computing Infrastructure department (called "Computer Centre") of IIT Bombay. Her areas of interest are performance analysis of computing systems and networks and building applications for online programming education, including AI for programming education.

Vinayak Godse is the CEO of Data Security Council of India (DSCI). Mr. Godse drives the security technology industry development charter, security for emerging technologies, AI governance and policy development, and plays a pivotal role in promoting security ecosystem to position India as a global hub for cyber security and privacy.

He has been instrumental in developing the DSCI Security Framework (DSF) and DSCI Privacy Framework (DPF), DSCI credentials including DSCI Certified Data Protection Officer (DCDPO), AI Governance, Quantum Security, and conducted many of these training programs.

Vinayak contributes to various national and sectoral initiatives. He is currently a member of SEBI's Committee on Financial and Regulatory Technologies (CFRT). He has been working closely with MeitY, MHA, Department of Commerce and MEA on transborder data flow and global cybersecurity norms, etc.

He has over 30 years of experience in Information Security, IT Transformation, Intelligent Networking and Telecom Infrastructure. Prior to DSCI, he worked with the Global Consulting Practice of TCS in Information Risk Management and worked as a Telecom Engineer at BSNL.

Mr. Nehal Vora is the Managing Director and Chief Executive Officer of Central Depository Services (India) Limited (CDSL), India's largest depository by number of demat holders and the first listed depository in Asia-Pacific region. He brings a uniquely comprehensive view of India's securities market, shaped by leadership experience across the regulator, market infrastructure institutions, and the brokerage ecosystem. This multi-lens exposure forms the foundation of his work in building transparent, trusted and resilient market infrastructure.

With over three decades in the securities industry, Mr. Vora has held pivotal roles that span conduct, governance, risk management and market integrity. Mr. Nehal Vora has driven transformative growth at CDSL since September 2019, overseeing it become the custodian for over 17 crore demat accounts (as of December 31, 2025). His leadership foundations were shaped at DSP Merrill Lynch, a leading brokerage and investment banking franchise, where he led Law and Compliance and later steered the firm's compliance function across its India operations. The role provided global exposure to regulatory standards and investor protection frameworks. In 2008, he received the firm's prestigious "OGC Living the Mission" award, becoming the first Indian to be honoured with this global recognition.

In 2009, he joined BSE as part of a transformation-driven leadership team tasked with modernising a 125-year-old institution. As Chief Regulatory Officer, he played a central role in strengthening governance, regulatory compliance and market integrity. His tenure coincided with milestone events such as the IPOs of both BSE and CDSL, offering him strategic insights into the evolution, scalability and stewardship of India's market infrastructure institutions.

Mr. Vora also spent a decade at the Securities and Exchange Board of India (SEBI), where he played a key role in shaping regulatory frameworks and strengthening market oversight. His deep engagement with SEBI continues through his active participation in several of its committees and advisory groups. He works closely with several SEBI committees and advisory groups. He chairs the Working Group under the Market Data Advisory Committee (MDAC) for Secondary Markets and serves on the FPI Advisory Committee, Market Data Advisory Committee, Corporate Bonds and Securitization Advisory Committee (CoBoSAC), and the Secondary Market Advisory Committee (SMAC). His perspective also extends to the international domain through his role on the IFSCA Expert Committee on Secondary Markets. Additionally, he is a member of the Advisory Council of NISM.

Under his leadership, CDSL has delivered strong institutional outcomes, reinforcing its position as India's largest and most trusted depository. The organisation has earned over 30 awards, out of which more than 12 are of a global stature - for digital innovation, cybersecurity excellence, operational resilience, investor education, CSR efforts, and governance leadership. These recognitions include "CSD of the Year 2025" by Asset Servicing Times, "Market Infrastructure of the Year" at the 8th Regulation Asia Awards for Excellence 2025, "Best Organizations for Women 2025" in ET Now's Coffee Table Book edition, and the National Award for Excellence in CSR and Sustainability for "Best Use of CSR Practices - Capital Market Sector."

Ambarish Kenghe is a seasoned leader with deep expertise across FinTech, consumer Internet, and e-commerce. As Group CEO of Angel One Ltd., one of India's leading FinTech platform and financial services company, he is driving the next growth phase through product innovation, tech-led transformation, and enhanced customer experience.

Angel One is a widely recognised FinTech platform, trusted by over 32 million clients. Starting as a traditional stockbroking house, it has transformed into a digital-first, full-stack financial services platform. Today, it offers everything from stock broking and mutual funds to insurance, wealth management, and credit solutions. With its Super App and AI-driven tools, Angel One is reshaping how Indians invest and plan their finances, making the journey simple, accessible, and inclusive for all.

Before joining Angel One, Ambarish played a pivotal role in scaling Google Pay in India as VP/GM APAC region, where helped shape one of the country's most widely adopted digital payment platforms. Prior to Google Pay, he served as Chief Product Officer at Myntra, where he drove the integration of AI/ML to personalize the fashion e-commerce experience.

He also co-founded and led product for Google Chromecast, a mobile-first streaming device that transformed the Smart TV experience globally. Under his leadership, Chromecast became one of the fastest-selling consumer tech products, with its core technology now embedded in over a billion devices.

His diverse global experience also includes consulting at Bain and Company in San Francisco and engineering roles at Cisco Systems in San Jose, where he worked on high-speed networking technologies. With nearly three decades of experience, Ambarish is a recognized innovator with four patents to his name. He holds an MBA from the University of California, Berkeley (Haas), MS in computer science from Purdue University, M.Tech. computer science and engineering from IIT Kanpur, and a bachelor's in computer engineering from AMU.

Ms. Bhuvaneshwari A. is known for building inclusive, high-performing teams and delivering customer-first transformation across retail banking, wealth and digital. Beginning her journey as a Probationary Officer in 1994, she has led diverse and high-impact roles across the organisation.

At the SBI Corporate Centre, she served as General Manager - Redesign Studio, leading initiatives that enhanced operational excellence and improved employee and customer experience. Most recently, as Chief General Manager of SBI's Thiruvananthapuram Circle, she oversaw over 1,200 branches, driving strong growth in retail credit, deposits and market share.

Her proven ability to build strong teams, drive digital growth and nurture talent makes her the right leader to take SBICAP Securities into its next phase of growth. Her appointment reinforces the company's commitment to empowering Indian households with greater financial choice and access.

Ms. Bhuvaneshwari holds a Postgraduate degree in Public Administration and is a Certified Associate of the Indian Institute of Bankers as well as a Certified Financial Planner.

Mr. Dhiraj Relli leads HDFC Securities-one of India's most trusted financial services brands-driving its evolution into a diversified financial services powerhouse. He is a transformative leader steering the organization toward a future defined by innovation, inclusivity, and intelligent technology.

With over three decades of experience, Mr. Relli has cultivated a profound understanding of capital markets, investments, and the banking and financial landscape, resulting in substantial growth for HDFC Securities. Under his guidance, the firm has become a comprehensive financial solutions provider, evolving from the traditional broking model of RM-serviced clients through physical branches to a completely digital offering, catering to seasoned investors as well as new-age customers such as millennials.

Harsh Jain is co-founder and COO at Groww - India's largest investment platform. Harsh holds a B.Tech. in Electrical Engineering and a Master's in Information and Communication Engineering from IIT Delhi. He is also an MBA in Product Management and Marketing from the UCLA School of Management.