Corporate Governance

We strive to ensure corporate governance and build a long standing relationship with our stakeholders, and in this pursuit always adhere to our values and culture.

Board of Directors

Mr. Mahesh Shah

Additional Director, designated as Managing Director

Mr. Mahesh Shah, Additional Director, designated as Managing Director being Key Managerial Personnel of the Company has more than 29 years of rich expertise and experience in retail industry, Mr. Mahesh Shah, aged 52 years has done M.M.S. – Management from S.P. Jain Institute of Management & Research and holds a Bachelor’s degree in Engineering from Veermata Jijabai Technological Institute (V.J.T.I). Mr. Shah has worked with India’s leading retail houses and has had a long-term relationship with Future Group. To summarise, Mr. Shah has been associated with the Future Group as a CEO – HomeTown (erstwhile Pantaloon India Limited) from May 2005 – July 2011, then had worked as a CEO – HomeTown with Future Retail Limited and Praxis Home Retail Limited for a total period from June 2013 – Oct 2018. Even outside the group, he has shown his exemplary performances as a President – HomeCentre (company being Lifestyle International Private Limited), with his recent stint being in Welspun Flooring Limited as a CEO. Mr. Shah’s benchmarked performance is that of setting up the concept “HomeTown”, a complete home retailing format of an average size of 1,50,000 sq.ft encompassing Furniture, Home Improvement, Electronics, Furnishings, Décor and Housewares. He has a record of setting up 11 stores across India and was responsible for concept profitability, store design and merchandising. Also headed value retailing formats for home: “Furniture Bazaar” and “Home Bazaar” during his tenure with HomeTown between 2005-2011. He is known for his strategic business decisions related to sourcing and merchandising of Furniture and Home Improvement Categories. HomeTown with the largest market share in Furniture and Modular Kitchens in the country today, the main challenge surpassed by Mr. Shah was that of creating and maintaining a team that believed in the vision and which delivered inspite of the financial constraints.
Mr. Shah’s experiences are manifold and too wide. His strong parameters are can be put up as: • Turning around Businesses, • Entrepreneurial outlook, • Success in launching new product categories / starting new Businesses, • Consumer Insights, • Team Building and Development. His proven specialities are in setting up retail stores, driving retail sales, recruitment and training, store layout and design, merchandising, supply chain and reverse engineering, vendor development and sourcing, Dealer network Design and Management.

Ms. Avni Biyani

Additional Non-Executive, Non-Independent Director

Ms. Avni Biyani, Additional Non-Executive, Non-Independent Director is the Concept Head of Foodhall, the specialty food superstore from Future Group. She formally joined Future Group in 2011 as part of its food business and over the years has established Foodhall as India’s premium lifestyle food destination. Ms. Avni is also a part of Future Group’s Integrated Food Strategy Council and is responsible for ramping up the group's foray into the premium food segment. She has a keen interest in the fashion & lifestyle businesses of the group and is closely involved with the launch of India’s first fast fashion brand – Cover Story. Ms. Avni Biyani, is the younger daughter of Kishore Biyani, Chief Executive of Future Group. She studied at Dhirubhai Ambani International School and graduated in Sociology & Politics from New York University. Apart from her interest in liberal arts and humanities, Ms. Avni is a passionate cook and a connoisseur of various global cuisine. Her love for travelling and exploring new places across the world has translated into her vision for Foodhall. Observing customers also inspires her in many ways to comprehend a lot of business practices and selling styles. Ms. Avni loves to ski and is also a trained classical dancer.

Mr. Harminder Sahni

Additional Independent Director

Mr. Harminder Sahni, Additional Independent Director has done his M.B.A from IMS, Indore and a Textile Engineer from TITS, Bhiwani. Mr. Sahni is the Founder and Managing Director of Wazir Advisors. He has been advising various consumer centric businesses. He carries with him immense experience of over two decades as a management consultant in the Consumer Goods, Retail and Textile sectors. He has been guiding various Indian and International companies on corporate strategy, business creation, diversification and performance enhancement.

Mr. Jacob Mathew

Additional Independent Director

Mr. Jacob Mathew, Additional Independent Director is a product designer trained at India’s National Institute of Design, Mr. Jacob co-founded Tesseract Design, now Idiom Design, Dovetail Furniture, Spring Health Water and is also a Design Principal at Srishti where he leads the Impact Edge Lab. His day job is CEO Industree Foundation. Mr. Jacob spent the first 25 years of his professional life transforming Business by Design, now well into his next 25, he is bent on transforming Society through business and design.

Mr. Shrirang Sarda

Non-Executive, Non-Independent Director

Mr. Shrirang Sarda, Non-Executive, Non-Independent Director, graduated in Commerce from BYK College of Commerce and MBA from Simon Business School, University of Rochester in 1996. He joined the Sarda Group family business in 1996 and played a key role in diversifying the Sarda & Kadak Bidi business. He was instrumental in establishing a world-class dairy farm, Sarda Farms, and setting up its last mile distribution for chilled milk. He pioneered Yogi Ayurvedic Products Private Ltd. a leading GMP certified company engaged in manufacturing Ayurvedic products. He initiated the Sarda Group's diversification in the hospitality industry with the launch of Apple Country, Manali, one of the highest-occupied hotels of Manali. As Director of TLC Relationshio Pvt. Ltd. (a leading CRM services company for the hospitality vertical), led the technology aspect for CRM services. He played a key role in setting up Nashik's first mall, The Zone', integrating Retail, Entertainment and Leisure to attract national retailers to the city. He is a Chairman of City Center Mall Pvt. Ltd.', a 5,50,000 sq.ft. shopping center in Nashik integrating retail, entertainment and food, which intends to create a world-class digital customer experience. He is a Chairman of Shreelekha Nagari Sahakari Adhikosh Ltd., a micro-finance society for over 12,000 women. Also involved in various non-profit and CSR activities. He aspires to enrich social sensibilities across the Sarda Group.

Ms. Anou Singhvi

Additional Independent Director

Ms. Anou Lunia Singhvi, Additional Independent Director is a businesswoman and revivalist of Jewelled Textiles. She manages the family-owned heritage luxury brand P. C. Lunia - Purveyors of Precious Objets D'Art. Hailing from New York, she belongs to a prominent family of 9th generation of jewellers from Jaipur. As a creative, her works as a visual and performing artist have been showcased at various national venues and her artworks can be found in prominent homes and government buildings in India and the Middle East. Her work as a jewellery designer has been featured in the illustrious MARWAR Magazine. She also has fashion line of hand-block printed as well as hand-embroidered t-shirts and pashmina shawls that can be found in hi-end designer stores in India. A founding member of the NGO Srishti Art and Craft Society, she aims to empower artists and craftsmen from 2nd tier cities in India through the non-profit organization. As a thinker and writer, she pens thoughts about her understanding of spirituality, philosophy and how it relates to the rich heritage of the arts and crafts of India. Her articles on the topics of spirituality, art and jewellery have been published in the Times of India and Gems and Jewellery Magazine as well. Ms. Anou studied Interior Design from Parsons School of Design, New York along with a BFA in Applied Arts from University of Rajasthan.

Key Managerial Personnel

Mr. Mahesh Shah

Additional Director, designated as Managing Director

Mr. Vikash Kabra

Deputy Chief Financial Officer

Ms. Smita Chowdhury

Company Secretary & Compliance Officer

Audit Committee    
Name of the Member Position Held Category
Mr. Harminder Sahni Chairperson Additional Independent Director
Ms. Anou Singhvi Member Additional Independent Director
Mr. Jacob Mathew Member Additional Independent Director
Mr. Mahesh Shah Member Additional Director – Managing Director
Nomination and Remuneration Committee    
Name of the Member Position Held Category
Mr. Jacob Mathew Chairperson Additional Independent Director
Mr. Shrirang Sarda Member Non-Executive, Non-Independent Director
Mr. Harminder Sahni Member Additional Independent Director
Corporate Social Responsibility Committee    
Name of the Member Position Held Category
Ms. Avni Biyani Chairperson Additional Non-Executive, Non-Independent Director
Mr. Mahesh Shah Member Additional Director – Managing Director
Mr. Jacob Mathew Member Additional Independent Director
Mr. Shrirang Sarda Member Non-Executive, Non-Independent Director
Ms. Anou Singhvi Member Additional Independent Director
Stakeholders Relationship Committee    
Name of the Member Position Held Category
Mr. Shrirang Sarda Chairperson Non-Executive, Non-Independent Director
Mr. Harminder Sahni Member Additional Independent Director
Mr. Jacob Mathew Member Additional Independent Director