Our Directors


Mr. Padmanabh Pundrikray Vora, holds a Bachelor’s degree in Commerce and is a Chartered Accountant by profession. Mr. Vora is an eminent person in banking and financial markets. He is also a member of the ICAI and Associate of Indian Institute of Bankers and has over 37 years, experience in finance, banking and management. He was also the Chairman of National Housing Bank, the Regulatory body for housing finance in India.During his long and illustrious career as banker, he has held several prestigious positions in the industry such as serving as the Chairman-cum-Managing Director of the Industrial Development Bank of India from which he retired in 2003.

MR. Swarnpal Singh Bais
Director & CEO

Mr. Swarnpal Singh Bais is an engineering graduate and an MBAhaving 18 years of leadership experience in finance and distribution with leading Banks and Finance companies. In his last role, Mr. Bais was CEO and founding member of DMI Housing Finance.His previous professional assignments include, Business head with Aadhar Housing Finance Limited,where he developed a business portfolio of Rs 1,500 crore. He has risen through ranks in prominent organizations like Standard Chartered Bank, ICICI Bank, Whirlpool and Titan Industries Ltd.

Promoter Director

Mr. Rajesh P. Khandwala is a visionary and founder of the Khandwala Group. He is a Commerce Graduate having experience of over two and half decades in Capital Market activities. He is a dominant figure in Gujarat Capital Market and has contributed greatly to the Group’s rise. He is keenly engaged in to the growth and development of all the Khandwala group companies.

MR. VIMAL P. KHANDWALA, Promoter Director

Mr. Vimal P. Khandwala is a Commerce Graduate and has deep operational knowledge of more than 20 years in Capital Market activities. He has rich experience in Primary Market, Secondary Market, Derivatives and Arbitrage Operations, and Financial Management. With his strong operational skills Mr. Vimal keeps providing the group with the much needed controls for efficient business operations.


Mr. Kartik Mehta is a qualified Chartered Accountant and also qualified Certified Financial Plannerwith more than 24 years of experience in the banking and the financial services industry in India. He is largely credited with creating the strategy for HDFC Bank’s initial expansion in to the state of Gujarat. He is co-founder and the Managing Director of Pahal Microfinance.


Ms. Purvi Bhavsar has over 22 years of diverse experience in the financial services and telecom industries.She has worked in various organizations like Apple Industries,HDFC Bank, ICICI Bank and Vodafone. She is the co-founder and Jt. Managing Director of Pahal Microfinance. She has won several awards and accolades during her professional career including the “Leading women in Telecom” for the year 2010.