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 Management

Sr. No. Name Designation Email Phone number
1 Mr. Arup Mukherjee Managing Director & CEO arup.mukherjee@indiaicc.com +91 079 6199 3148
2 Mr. Jigar Shah Chief Risk & Regulatory Officer and CISO jigar.shah@indiaicc.com +91 079-6199 3175
3 Mr. Deepak Khemani Chief Financial Officer deepak.khemani@indiaicc.com 079 61993129
4 Ms. Gunjan Mirani Head – Clearing & Settlement Operations, BDM & Treasury gunjan.mirani@indiaicc.com +91 079-6199 3168


Mr. Arup Mukherjee
Position: Managing Director & 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 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.

Mr. Jigar Shah
Chief Risk & Regulatory Officer and CISO
  • Mr. Jigar Shah has over 15 years of experience in domestic and global clearing corporations.

  • He has worked previously with the Multi Commodity Exchange of India Limited, Bahrain Financial Exchange, ASE Capital Markets Limited in various roles.

  • He has managed and led teams for clearing & settlement, trading, risk management, collateral management and systems development.

  • He has a PGDBA (Finance) from Wellingkar Institute, Mumbai, Advance Diploma in Management from Wellingkar School of Management, Mumbai and B.Com. from Gujarat University.


Mr. Deepak Khemani
Position: Chief Financial Officer
  • Mr. Deepak Khemani is a member of The Institute of Chartered Accountants of India, having post qualification experience of around 5 years.

  • He was the 31st ranked merit holder in CA IPCC.

  • He has previously worked with Ocwen Financial Solutions Private Limited (an US based mortgage company), situated in Mumbai, in the Compliance and Operational Controls Departments and with Tata Consultancy Services Limited, Mumbai.

  • Mr. Khemani is also a qualified Company Secretary from the Institute of Company Secretaries of India.

Ms. Gunjan Mirani
Position: Head – Clearing & Settlement Operations, BDM & Treasury
  • Ms. Gunjan Mirani has around 27 years of work experience in the securities industries.

  • She has previously worked with Indian Clearing Corporation Limited, CD Equisearch Private Limited, Eureka Stock and Share Broking Services Private Limited. Her last assignment was at the Indian Clearing Corporation Limited as Assistant General Manager – Finance and Accounts.

  • She has wide range of experience in dealing with Foreign Portfolio Investors, Financial Institutions, HNI broking, arbitrage, portfolio management, treasury & financial operations.

  • She has also worked as Systems Manager in her earlier role at a broking company where she managed databases and front end development using Sybase power builder. She also handled the networking and telecommunication at the firm.

  • Ms. Mirani has a Bachelor of Commerce degree from University of Calcutta, Post Graduate Diploma in PR from Bhartiya Vidhya Bhavan and Post Graduation in Software Engineering from CMC Limited.