Meleveetil Damodaran is an Indian corporate advisor and mentor and a former senior government official. He is a Director on the Boards of
Larsen & Toubro
Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumba ...
,
Hero MotoCorp,
Tech Mahindra
Tech Mahindra is an Indian multinational information technology services and consulting company. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai. Tech Mahindra is a 6.0 billion company ...
,
CRISIL
CRISIL (formerly ''Credit Rating Information Services of India Limited'') is an Indian analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global.
CRISIL, was the f ...
,
Biocon
Biocon Limited is an Indian biopharmaceutical company based in Bangalore. It was founded by Kiran Mazumdar-Shaw in 1978. The company manufactures generic active pharmaceutical ingredients (APIs) that are sold in approximately 120 countries, ...
and
Experian India.
He is the founder Chairperson of Excellence Enablers Private Limited, a niche Corporate Governance advisory firm and the Founder and Managing Trustee of Non Executive Directors in Conversation Trust (NEDICT), an exclusive forum for Non-Executive Directors. He is the present Chairman of
IndiGo
Indigo is a deep color close to the color wheel blue (a primary color in the RGB color space), as well as to some variants of ultramarine, based on the ancient dye of the same name. The word "indigo" comes from the Latin word ''indicum'', m ...
.
Early life
Meleveetil Damodaran was born in
Palakkad district,
Kerala
Kerala ( ; ) is a state on the Malabar Coast of India. It was formed on 1 November 1956, following the passage of the States Reorganisation Act, by combining Malayalam-speaking regions of the erstwhile regions of Cochin, Malabar, South ...
, India in May, 1947. He attended
Campion High School
Campion Jesuit High School was a Jesuit boarding school for boys in Prairie du Chien, Wisconsin, named for the Jesuit martyr Edmund Campion. The school operated from its founding in 1880 until closing in 1975, and educated several notable figure ...
,
Tiruchirapalli
Tiruchirappalli () ( formerly Trichinopoly in English), also called Tiruchi or Trichy, is a major tier II city in the Indian state of Tamil Nadu and the administrative headquarters of Tiruchirappalli district. The city is credited with bein ...
, and completing his pre-university in
Loyola College, Chennai
Loyola College is a private Catholic higher education institution run by the Society of Jesus in Chennai, Tamil Nadu, India. It was founded in 1925 by the French Jesuit priest, Francis Bertram, along with other European Jesuits. It is an auton ...
, he spent a little over 2 years at
Indian Institute of Technology Madras. He graduated in Economics and Law from the Universities of Madras and Delhi respectively.
Career
After 6 months each as a Probationary Officer in Indian Bank and State Bank of India, he joined the IAS - 1971 batch - in the Indian state of Tripura, where he served in different developmental and regulatory positions. He was appointed Tripura's Chief Secretary in 1992, when he became the youngest person ever in India to hold such a position in a State Government.
In 2001, he was appointed the Chairman of UTI to rescue India's largest and oldest investment institution, which had collapsed. He restored UTI to health in arguably the most successful turnaround story in Indian financial sector history. He was simultaneously given charge of IDBI, another of India's major financial institutions. Here, he created the Stressed Assets Stabilisation Fund, which helped clean IDBI's books, facilitating its conversion to a commercial bank and its merger with another bank.
As Chairman of SEBI, he brought improved corporate governance practices to India's securities market. Among his many contributions was the introduction of QIP, an instrument for follow on offerings which until then was going to external markets. While at SEBI, he was elected Chairman of the Emerging Markets Committee of the International Organization of Securities Commissions (IOSCO),
a position he held till he demitted office as Chairman, SEBI. He was the Chairman of Ministry of Corporate Affairs' Committee for Reforming the Regulatory Environment for facilitating the ease of doing Business in India.
He was also the Chairman of Reserve Bank of India's Committee on Customer Service in Banks. He chaired the Taskforce on Corporate Governance constituted by the Federation of Indian Chambers of Commerce and Industry (FICCI).
He was appointed Chairman of IndiGo (InterGlobe Aviation) on 24 January 2019.
References
External links
CIO Magazine India
{{DEFAULTSORT:Damodaran, M.
1947 births
Living people