>  Board of Directors
Board  of Directors

Mr. Ashishkumar Chauhan
Chairman
  • Mr. Ashishkumar Chauhan is a pioneer in the field of financial markets, information technology and market micro structure. He is one of the founders of India's National Stock Exchange (NSE) (1992-2000) where he set up and operated India's first successful screen based trading, India's first commercial satellite network, Nifty index and India's first certification in financial markets. Due to his efforts for setting derivatives markets at NSE, he is considered father of financial derivatives in India.

  • From 2000-2009, he worked as the President and Group Chief Information Officer (CIO) of Reliance Group, India's largest business house. Additionally, he also acted as the Head, Corporate Communications, Reliance Group from 2005 – 2008 and acted as the CEO of Cricket team Mumbai Indians, in its formative years.

  • He joined BSE as Deputy CEO in 2009 and was appointed as CEO in 2012. At BSE he has been responsible for reviving the 142 year old organization over last 8 years and has been instrumental in making BSE the world's fastest exchange with 4 micro seconds response time, setting up market leading franchisees in currencies trading, mutual fund distribution, bond distribution, SME, Offer for Sale etc. He was also successful in getting BSE shares listed with the public issue oversubscribed by more than 51 times.

  • He has also been instrumental in setting up India's first International Exchange, India International Exchange (IFSC) Ltd. (India INX) at the Gift City, Gandhinagar, inaugurated by the Honourable Prime Minister of India on January 9, 2017. He is currently acting as the non-executive Chairman of the India International Exchange (IFSC) Ltd.

  • He holds B. Tech. in Mechanical Engineering from IIT Bombay (1989) and PGDM from IIM Calcutta (1991) both institutions conferred on him a rare honour of Distinguished Alumnus Award (IITB-2014 and IIMC-2016). He has been a recipient of several Indian and International Awards in his career including the Indian Business Leader of the Year, Interlaken/Switzerland (2015), R H Patil Lifetime Achievement award in financial markets, Mumbai (2015), CEO of the Year, Diamond Sabre Awards Hong Kong (2015), Best CEO in the Financial Markets in the Asia Pacific, Asian Banker, Kuala Lampur, Malaysia (2014), Zee Business Awards- Special contribution in Commodities and Capital Market (2013), Top 50 CIOs in the world, Information Week, US (2009), Life Time Achievement Award in IT at Istanbul, Turkey by CTO Forum (2007).

  • He is a part of several Government, Regulatory and other Committees in India and abroad. He and his writings have been quoted in newspapers and magazines frequently. He is a Distinguished Visiting Professor at Ryerson University, Toronto, Canada. He is also associated with several NGOs and education institutions




Mr. Alok Mohan Sherry
Public Interest Director
  • Dr. A. M. Sherry is Professor at the National Institute of Financial Management, & Financial Adviser at Ministry of Finance, Government of India. He is also Programme Chair, Financial Markets.

  • He has over 24 years of experience in Teaching, Research and Consulting in Public Financial Management, Government Accounting, Direct & Indirect Taxes and Capital Markets.

  • He has guided more than 200 Research projects and published/presented research papers in National/International Conferences/ Journals. As a trainer he has conducted more than 100 training programmes for officers of Central Government, State Governments and Public Sector Undertakings.

  • He is also Head of the Research Team of Department of Economic Affairs & National Institute of Financial Management (DEA-NIFM) Research Programme.

  • He is on Expert Panel of All India Council for Technical Education (AICTE), National Board of Accreditation (NBA), National Law University, and YMCA University.

  • He was Member of the Task Force on revision of General Financial Rules of Government of India. He has been member in various Committees of The Institute of Chartered Accountants of India such as Board of Studies, Accounting Standard Board, and Committee on Accounting Standards for Urban Local Bodies etc.

  • He worked as a Consultant for Government of Haryana, Government of Jharkhand, Government of Odisha, Central Board of Direct Taxes, Indira Gandhi National Open University, Jamia Millia Islamia and Indian Institute of Public Administration.


Mr. V Balasubramaniam
Shareholder Director
  • Mr. V. Balasubramaniam (Bala) is the founding Managing Director and Chief Executive Officer of India International Exchange (IFSC) Limited (India INX), the first International Exchange from India in GIFT City International Financial Services Centre Special Economic Zone which started its operations from January, 2017 and a subsidiary of BSE (Asia's first stock exchange). He also holds board position in the following organizations -
    • BSE Institute Limited
    • India INX Global Access IFSC Limited
    • India International Bullion Holding IFSC limited
    • India International Bullion Exchange IFSC Limited

  • In addition to the above, he is also a member of following committees of IFSCA:
    • Committee of Experts on Sustainable Finance
    • Committee of Experts on Investment Funds
    • Committee of Experts on positioning IFSC as a hub for offshore trading in INR

  • Prior to this, he was the Chief Business Officer of BSE heading the business development encompassing all business segments viz. Equities, Equity Derivatives, Debt, Interest Rate Futures, Currency Derivatives, Mutual Fund Distribution platform and SME platform. In addition to the markets business, he was also responsible for the listings and data business of BSE and managing the entire trading operations and membership operations.

  • He has over 31 years of experience in the Capital Markets industry and has previously worked with Reliance Group as Vice President and was also as co-founder of BSE Technologies Private Limited which was acquired by BSE.

  • He was also part of the core team involved in setting up the National Stock Exchange of India. He was instrumental in creating the Capital Market segment, Nifty Index creation, setup of NSCCL as the first clearing corporation in India, NCFM certification creation and the Futures and Options segment inter-alia.

  • He has served in the board of Central Depository Services (India) Limited, Futures Industry Association – Asia, Co-Chair of FICCI Capital Market Committee etc.

  • He has Masters in Commerce from the University of Mumbai, Rank holder from the Institute of Cost Accountants of India, Diploma from Institute of Chartered Financial Analysts of India and is a Certified Information Systems Auditor.


Shri Sameer G. Patil
Shareholder Director
Shri Sameer has more than 23 years of experience with a deep understanding of traded equity and debt assets classes, underlying physical commodity markets, and global Index /FX / interest rate / commodity derivatives in both exchange and OTC markets. In his present role as Chief Business Officer, he spearheads the entire BSE group’s Business Development and Marketing function which includes trading and distribution functions, as strategic ventures of the exchange. Under his leadership, BSE has seen a revival of market share in tradition business segments such as equity, equity derivatives, currency derivatives and fixed income segments. He is also instrumental in BSE’s business expansion and leadership in newer areas such as interest rate options, and commodity derivatives markets.

He was instrumental in conceptualization and setting up of India’s first International Exchange in GIFT CITY IFSC – “INDIA International Exchange “– where he oversees the Business Development and Marketing function. In a very short time period, India INX has witnessed a single day turnover of over US$ 30 billion and a market share of over 90 percent. He is also credited to launch first of its kind outbound platform India INX GA in GIFT CITY IFSC for Indian Investors to access Global Exchanges like CME, LME, ICE etc.

Due to his rich experience and professional skillset, he is part of various committees and working groups of the Government of India, regulatory bodies like SEBI / IFSCA / Niti Aayog and Global bodies and associations. In this role he has played a key role in the conceptualizing of Gold Spot Exchange in both GIFT city and India Domestic Zone and launch of World’s first ‘Options in Goods’ in commodity segment.

In his previous assignment as Senior Vice President (PKMT & Business Development) at MCX, where he was one of the core founding team Member responsible for the setup of the commodity exchange in India. He is credited for successful launch of the flagship contracts on MCX the Gold, Silver, WTI Crude Oil and Copper contracts. The Gold Petal contract launched on April 18, 2011 was awarded as the Best Innovative contract of the year by FOW Singapore. During his tenure at MCX, he was also instrument in successfully launching and heading business functions at domestic exchanges like MCX and MCX-SX, and International Exchanges including:
  • Dubai Gold and Commodities Exchange (DGCX - Dubai)
  • Singapore Mercantile Exchange (SMX – Singapore)
  • Bahrain Financial Exchange (BFX – Bahrain)
  • Global Board of Trade (GBoT – Mauritius)
  • Bourse Africa (Botswana)
He began his career with K J Investors Services (I) PVT LTD, an affiliate of Cargill Investors Services, Illinois, Chicago, USA as Senior Financial Analyst.

He currently serves as the member of the Board of Directors of:
  • India International Exchange (IFSC) Limited
  • India International Clearing Corporation (IFSC) Limited
  • India INX Global Access IFSC Limited
  • Indian Clearing Corporation Limited
  • BSE E-Agricultural Markets Limited
  • BSE Sammaan CSR Limited
He is considered a credible and trusted domain expert in a diverse areas ranging from commodities trading, Index development, Hedging Strategies, Financial Product Design & launch, and physical market outreach. He is awarded the “India UAE business Ambassador of the year 2018” at Abu Dhabi for his achievements in financial markets globally. He is Science Graduate from Mumbai University and MBA in finance.

Mr. Arup Mukherjee
MD & CEO
  • Mr. Arup Mukherjee is the Managing Director & CEO of the India International Clearing Corporation (IFSC) Limited.

  • Mr. Arup Mukherjee has around 30 years of work experience of which around 27 years has been in the Securities Industry.

  • He has worked previously with the Indian Clearing Corporation Limited ("ICCL"), National Stock Exchange of India Limited ("NSE"), Indian Seamless Financial Services Limited and the Stock Holding Corporation of India Limited ("SHCIL"). He has wide ranging experience in trading operations, equity markets, derivatives, debt markets, surveillance, risk & regulatory, membership, investor services, arbitration, compliance, index services, training and education etc.

  • Mr. Mukherjee joined NSE in 1994 when the Exchange commenced its operations. At NSE, he had set up the Listing Department (over 1700 companies listed) and the India Index Services & Products Ltd. (now a subsidiary with a turnover of over INR 30 crores) where he served as its first Chief Executive Officer ("CEO"). He was on various internal committees such as the Index Maintenance Committee and the Internal Committee for Minor Actions (ICMA) against trading members.

  • He was also involved in conceptualising and setting up various systems such as the listing database system, derivatives surveillance system, index management system etc. and launching of derivatives products such as single stock futures and options, index options and interest rate futures.

  • Mr. Mukherjee joined ICCL (a wholly owned subsidiary of the BSE) in December 2014. At ICCL he handled the regulatory and compliance functions and was the company's Chief Regulatory Officer (CRO).

  • Mr. Mukherjee is a Bachelor of Commerce and Master of Management Studies from the Mumbai University.