1. NAME : BHAGIRAT B. MERCHANT
2. DATE OF BIRTH : 19th May, 1946.
3. EDUCATIONAL : B. Com., F.C.A., MBA
QUALIFICATION {PGDBM in U.S. Money & Capital Markets-
New York Institute of Finance, New York.}
4. EXPERIENCE :
1971 – Jan. 1983:
After Final C.A. in May 1971 joined India’s First Private Sector Merchant Banking Company viz., H.L. Financial Consultants & Management Services Pvt. Ltd. (FICOM) as Manager (Operations). Was in charge of Loan Syndication, Public Issues & Fixed Deposit Depts., first to mobilise NRI investments in Jan., 1976 and toured the entire Middle East, U.K., U.S.A., Australia, Hong-Kong, Singapore & various West European countries. Specialised in NRI investment & taxation. Some well known issues handled: Reliance Industries Ltd. – First offer for sale in Nov. 1977 till G series of Debentures (1986), Hindustan Lever Ltd., Maharashtra Scooters Ltd., J.K. Synthetics Ltd., J.K. Industries Ltd.[tyre & tube project], Gujarat Alkalies & Chemicals Ltd., Gujarat Narmada Valley Fertilizers Co. Ltd., Lipton (I) Ltd, etc. In 1978 was promoted as the President of the Company and in 13 year stint with this company managed over 450 issues.{IPO’s}
1983 – Jan. 1985:
Help promote two corporate bodies to start, merchant banking, portfolio management and equity research. Was also providing professional services to corporates for Project Finance, Working Capital Finance, External Commercial Borrowings and Financial
Restructuring.
Feb. 1985–Sept. 1999:
Became member of the Stock Exchange, Mumbai as one of the First professionals to be admitted as a member of a recognized stock exchange in India. Mainly engaged in institutional business, investment broking and portfolio management.
Was elected as “President” of The Stock Exchange, Mumbai on April, 1994 for the year 1994 – 95.
Implemented the computerization of trading activities through the BSE Online Trading (BOLT) in January 1995 and also prepared the blue print for the paperless trading system through the creation of a depository company through the new concept called “Dematerialisation”. The Stock Exchange, Mumbai (BSE) promoted a company viz. Central Depository Services (India) Ltd. And was named as the initial Promoter and Director of the company for first three years.
For the first time in the history of the BSE organized a seminar entitled “The Indian Capital Markets – Problems & Prospects” in January, 1988 and conceived and conceptualized the creation of the Training Institute for imparting specialized knowledge about the entire Financial Markets encompassing the Money Markets, the Bond/Debt Markets, the Stock Markets, the Commodities Markets and the Forex Markets. The BSE Training Institute (BTI) was formally inaugurated in January, 1989 at the hands of the then Hon. Finance Minister of India Late Shri S.B.Chavan and has been since inception the main faculty member of the BTI.
Oct. 1999 – till date:
Actively pursuing ‘Teaching is Reaching’ concept through series of lectures on “Indian Scriptures and Management Principles, “Ethics and Business” and have written articles on these two subjects. Have been regularly invited by various Management and Research Institutes to give lectures on such subjects. Regularly also invited to discourses on “Adhyatma” (Bhagwad Gita and Ancient Indian Scriptures) by various social organisations, schools and colleges of Mumbai. Was appointed as Professor Emeritus through University Grants Commission, by J.D.C Bytco Institute of Management and Research, Nashik for one year (2003-2004) for their DCMM (Diploma in Capital Market Management). W.e.f August 2005 was retained as adjunct faculty cum co-ordinator for Professional Management Programme in Capital Market Management and to act as a chairperson of the course committee by the Mumbai Educational Trust (MET), Mumbai for one year. Designed special module on financial markets with particular reference to the Stock Market Operations and Fundmental Analysis with case studies of equity research for S.P.Jain Institute of Management & Research, Andheri(W) for the final year students of MBA (Finance) and has been retained as the main co-ordinator and faculty from 2006.
5. DIRECTORSHIPS :
1) Visaka Industries Ltd.
2) Shilchar Electronics Ltd.
3) E – cube India Solutions Ltd.
6. TEACHING ACTIVITIES :
A) Faculty attachment with :-
1) The Training Institute of BSE for the following subjects :-
a) NRI guidelines for investment & FERA.
b) Merchant Banking.
c) Project Finance and Feasibility Studies.
d) Prospectus evaluation.
e) Fundamental Analysis.
f) Depositories – Paperless Trading.
g) International Finance GDR, ADR, Euro issues, ECB guidelines etc.
h) Portfolio Management.
i) Mutual Funds and FIIS.
j) Mergers and Acquisitions.
k) Venture Capital and Private Equity Finance.
l) Capital Market Management Programmes.
m) Corporate Governance.
2) Visiting/Guest Faculty at the following Management Institutes :-
i) Narsee Monjee Institute of Management Studies, Mumbai.
ii) Lala Lajpatrai Institute of Management.
iii) K. J. Somaiya Institute of Management & Research.
iv) J.D.C. Bytco Institute of Management Studies, Nashik.
v) School of Economics, Indore.
vi) Smt. Hiraben Nanavati Institute of Management & Research for Women, Pune.
vii) Refreshers courses organised by the Department of Commerce, University of
Mumbai, for the Professors of accountancy of affiliated commerce Colleges of
Mumbai for the subject of Portfolio Management and Equity Research.
B) Was appointed by Commerce Dept. of University of Bombay to approve and give
Dissertation report for awarding M.Phil. Degrees in finance in 1994 – 95.
C) Participated in various seminars, conferences & refresher courses organised by:
a) Professional Bodies: -
- The Institute of Chartered Accountants of India, its WIRC, EIRC & Dubai chapters.
- Baroda Charter of Institute of Company Secretaries of India.
- Direct Taxes Professionals Association, Kolkatta.
- The Chamber of Income Tax Consultants, Mumbai.
- Institute of Certified Financial Analysts.
- Bombay Chartered Accountants Society.
- Bombay Management Association.
- National Insurance Academy, Pune.
- Study circles of W.I.R.C. of ICAI.
b) Management Institutes/Training Colleges: -
- Bankers Training College, Reserve Bank of India.
- Stern School of Business, New York University, New York, U.S.A.
- International Management Institution.
- Indian Institute of Management (Amdavad).
- UTI Institute of Capital Markets
- IDBI Training Institute
- S.I.E.S. College of Management Studies.
- Institute of Management Education, Pune.
- Sir Pochkhanwala College of Banking.
- Mumbai Educational Trust.
- NMIMS
c) Chambers of Commerce: -
- Indian Merchant’s Chambers, Bombay.
- Vidarbha Industries Association, (Akola).
- Indo American Chamber of Commerce.
- Vapi Industries Association
d) Stock Exchanges/Investors Association: -
- Various Stock Exchanges in India (Pune, Mangalore, Kanpur, Jaipur, Rajkot,
Kolkatta, Coimbatore, Cochin, Bangalore, etc.)
- Jamnagar Shareholders Association.
- Share Dealers Association, Vishakapatnam.
- Consumer Education & Research Centre, (Amdavad).
- Nashik Investors Co-op. Association Ltd.
- Investors Grievances Forum
- Southern Investors Association.
- Tamilnadu Investors Association.
- All India Investors Association.
- Mangalore Investors Association.
- Bhopal Stock Brokers Exchange.
e) Commerce/Economic Colleges: -
- H.R. College of Commerce & Economics.
- Jaihind College of Commerce & Economics.
- Syndenham College of Commerce & Economics Planning Forum.
- School of Economics, Devi Ahilya University, Indore.
f) Universities :-
- Penn State University, Pennsylvania, U.S.A.
- Shreemati Nathibai Damodar Thackersey Women’s University, Dept. of Post Graduate Studies & Research.
- National Law School of India, University, Bangalore.
g) Other Organisations/Institutions :-
- Rotary Clubs/Lions Club.
On the following subjects :-
a) Merchant Banking & Leasing
b) Stock Market investments – objectives & techniques.
c) Long term fiscal policy & capital Markets
d) Innovative means of financing, creation of new instruments, Global experience & emerging trends in India.
e) Budget & its impact on the Capital Markets
f) Information Technology & impact on Financial Markets.
g) Investment criteria – New issues from investor’s viewpoint.
h) Prospectus Analysis.
i) Current Economic Scenario & Stock Markets.
j) Foreign Institutional Investors & Stock Markets.
k) Understanding the Stock Markets.
l) Investors’ protection.
m) Changing face of the Indian Capital Markets.
n) Investment Analysis & Portfolio Management.
- o) Carry Forward, Futures & Options. (Derivative Instruments.)
p) Regulation of the Capital/Stock Markets.
q) Scripless Trading & Depositories.
r) Global Depository Receipts, American Depository Receipts, External commercial borrowings.
s) Credit Rating.
t) Consumer Financing.
u) Asset Backed and Mortgaged Backed Financing.
v) Venture Capital and Private Equity Investments
w) Mergers & Acquisition
7. AWARDS :
- Received “Samajshri” award for 1995 from Indian Council of Management Executives for meritorious services rendered towards Investors Protection during 1994-95.
- Special felicitations by the Bruhad Mumbai Gujarati Samaj in the year 1994-95
8. ACHIEVEMENT :
- First Indian Share & Stock Broker to deliver a keynote address at the International Conferences “Sub-continent Investment Forum-covering India, Pakistan, Srilanka & Bangladesh” - organised by Euromoney at London in June, 1994.
· First Indian Share & Stock Broker to have been invited by World Bank to talk on the “Changing Face of Indian Capital Markets” in August, 1994 at Washington D.C., U.S.A.
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