Corporate Fraud and Forensics India Summit 2017


Sanjay Rai

Add. Director

Serious Fraud Investigation Office, (SFIO, Mumbai) Ministry of Corporate Affairs, Government of India

Sanjay Rai is currently the Additional Director (Investigation) and Regional Head of Western India of Serious Fraud Investigation Office, Ministry of Corporate Affairs, Government of India. He has done his B Tech and M Tech in Biochemical Engineering from IIT, Delhi. He is a commissioner of Income Tax. He joined Indian Revenue Service and Worked as DDIT (Investigation), Mumbai, Additional Commissioner of Income Tax, Mumbai / Vapi, Additional DIT (Investigation), Rajkot, Additional Director (Investigation), SFIO. Major cases investigated by Mr. Sanjay Rai • Investigated and assessed Harshad Mehta Group of cases of 1992 scam. • Speakasia Online scam. • Investigated penny stock companies and multiple. Demat scam of Rajkot / Ahmedabad. • Operation Jam Jam, Jamsalaya, Gujarat. • M/s JVL/AsaramBapu's case. • City Limouzines – scam Mumbai. • Unipay 2U – scam Northeast, India. • Kingfisher Airlines, besides other investigations of corporate and other assesses from Income Tax's company law and Criminal point of view.

Amal Kundu

Chief Internal Auditor THCM & Regional Audit Manager

Hitachi Construction Machinery Co Ltd Tokyo

Amal Kundu is the Chief Internal Auditor, Chief Risk Officer and Chief Ethics Counsellor of Tata Hitachi Construction Machinery Company (p) Ltd, a TATA and Hitachi joint venture company. He is also the Regional Audit Manager of Hitachi Construction Machinery Company Tokyo. Amal is a Fellow Cost and Management Accountant and Certified Fraud Examiner with 31 years of experience in the field of Internal Audit and, Business Assurance, Enterprise Risk Management, GRC, Finance& Accounts, Fraud investigation and Forensic, Business Ethics and Internal control and BCP. Amal is experienced in handling complex deals, creation of new companies, SAP implementation, SOX & J Sox implementations. He has also implemented the Enterprise Risk management and Business continuity planning as part of strategic planning process of his company.

Anjan Bhattacharya

Chief Risk Officer

PNB Metlife India Insurance Co. Ltd

Anjan Bhattacharya joined PNB MetLife in Oct 2013. He is a seasoned Risk Management professional
from BFSI sector with 17 years of experience in Enterprise Risk Management (ERM), Operational
Risk Management, Process management, Forensics, Financial Crime management, and Risk based Audits & Assurance. Currently he is responsible for Risk Management at PNB MetLife while
supporting the ERM initiative for the organization. He is a member of India’s Executive Management team, MetLife’s Global Risk Management function, and Asia Operational Risk Committee. In addition to his India role, Anjan also heads the Risk Management function of MetLife Nepal. He also leads the Operational Risk Working Group for MetLife Asia, which looks at creating a repository of tools and best practices from global teams for supporting, enhancing and standardizing Operational Risk Management across MetLife Asia Operations. Educational Qualifications & Memberships (external):
Anjan Bhattacharya is a post graduate from IMI New Delhi and has undergone Leadership Development program from XLRI Jamshedpur. He is also a certified ISO Internal Auditor.

Dhanalaxmi Srinivas

Designated Ombudsperson – (Legal & compliance)

Wipro Limited

Dhanalaxmi Srinivas has been Designated Ombudsperson for Fraud Risk investigations with Wipro Ltd for the last 2.5 years. Dhana, as she is popularly called, is a Chartered Accountant with 17 years of experience across Banking, Manufacturing and IT industries. At Wipro, besides handling several internal investigations, Dhana has been instrumental in establishing an independent whistle blower hotline for anonymous reporting, as an important fraud prevention strategy. Dhana has also been at the forefront of running campaigns towards encouraging employees to come forward fearlessly and report any suspected incidents. Prior to this role, she has had varied exposure in Analytics, Risk Management, Audit, Pricing and Business finance in Multinational companies. She has even been an entrepreneur for a brief period.

Gaurav Datta

Strategic Advisor Security and Investigations


Gaurav has 15+ years of hardcore experience in physical security, investigations, risk mitigation & anti-fraud management. Expert in prevention, detection & deterrence methodologies in multi- functional sectors like eComm, complex Supply Chain, IT/ITES, Telecom, Manufac., Pharma, Hospitality business environment. He honed this core competence through challenging assignments in my international security exp across 6 continents & working with law enforcement agencies across the world & with Corporates like Flipkart, Avaya Inc, Avon Inc, Zydus Cadila, Costa Crociere-V Ships. A commissioned uniformed officer for 6 years for a fleet of ships and with 16 years of experience in leading crisis management operations of security practices and regulations/ policies of an organisation and its compliance. He is currently the Strategic Advisor for Security and Investigations for Flipkart. He is regular speaker at Corporate security summit held nationally. He is on the board of Directors of TAPA APAC, which is a global security standard in supply chain and more. He is trained Internationally in The Reid's Technique of Investigative Interviewing and Advanced Interrogation from Seattle. He has the honour of successfully completing more than 21000 Investigations in just the last 5 years.

Gaurav certifications include;
SSO (Ship Security Officer Cert.) of ISPS (International Security Code) Indian Naval Academy
CSP (Certified Security Practitioner) Field Of Study Asset Protection Management
Certified Vigilance and Investigation Expert (CVIE)
TAPA FSR Certified Auditor
Certified Anti-Terrorism Specialist (CATS)
Certified Crime Prevention Specialist (CCPS)
The Reid's Technique of Investigative Interviewing and Advanced Interrogation

Gaurav Batra

Asia Pacific Information Security & Compliance Manager

Mondelez International, India

Col.Harendra Bana

Associate Director Security- India Region (SE Asia)

PepsiCo India Holdings Pvt Ltd

Harendra is a career security professional with an experience of 30 years in the security domain. He started his career with the Indian Army in 1987 and opted to move out in 2007 to seek a corporate career retiring in the rank of Lieutenant Colonel. The corporate career commenced in 2007 with an innings of five years with Microsoft as Security Manager followed by a tenure with John Deere India as their Country Security Manager. In December 2014, Harendra took up the role of Head Security for PepsiCo South East Asia Region. Harendra is a member of the PepsiCo Diversity and Inclusiveness team; Chairman of the OSAC Delhi chapter and Nominated member of Sub-Group on Corporate Security Committee of FICCI Homeland Security. Harendra was Conferred the prestigious award “Security Professional of the Year Award for 2016” by SECONA India's independent security consultant association who formally recognize organizational and individual excellence in the Indian Security and Fire Safety sectors. He has also represented the Corporate Security industry in the CNBC news show The Winning Leap. Besides military certifications Harendra holds ISO certifications in both Risk and Business Continuity Management. He is also completed a post graduate diploma from XLRI in 2007.

Huzefa Goawala

GRC Specialist, India and SAARC

RSA, The Security Division of EMC

Huzefa Goawala is GRC Specialist, India and SAARC for RSA, based in Mumbai. He is responsible for leading RSA’s GRC business in the region. He has an overall working experience of 18+ years, of which he has been focused on Information Security and GRC domains for 11 years. Huzefa has an extensive experience of working across technologies and driving regional businesses in organizations such as Oracle, Sun Microsystems etc. He led the Security Solutions business for Oracle, while at Sun he was responsible for the Software business.

Karthik Somasundram

Partner - Disputes and Litigation


Karthik Somasundram heads the Firm’s practise of corporate - commercial litigation in Mumbai. He is a graduate of the prestigious NALSAR University, Hyderabad and has 13+ years of professional experience as a litigator. Karthik is experienced in conducting disputes before courts and arbitration panels in India and overseas. Karthik advises clients on strategies for dispute resolutions at the pre-litigation stage; drafting pleadings for filings in courts and arbitration proceedings and also regularly appears in the courts and arbitration proceedings to represent clients. Karthik has extensive experience in investment disputes (involving overseas and domestic funds), disputes arising from project finance and lending transactions, commercial litigation, corporate matters, recovery and securitization proceedings. Karthik also represents clients in property, trademark, copyright and entertainment industry disputes. In addition to his practice and experience in India, Karthik has conducted arbitration proceedings in Singapore and London and has interacted extensively with Attorneys in the UK, USA, Singapore, Australia and Brazil in relation to assignments relating to disputes and pre-litigation advisory, filings etc. As a litigator advising on strategy and strengths of a dispute, Karthik has extensive experience in advising on evidence gathering, analysis and exploitation. Karthik has also advised on commissioning of forensic audit of companies and businesses for gathering evidence to achieve exit from investments, initiate legal proceedings for disgorgement of gains, winding up/ insolvency, etc. Karthik has also advised and assisted clients in filing and prosecuting criminal proceedings on the basis of evidence gathered from forensic audit exercises. Karthik has been speaker at numerous events and has also addressed a series of guest lectures at various law colleges in the country.

Krishna Venkat



Krishna is a Corporate / M&A lawyer with over a decade of experience in handling cross border M&As for leading Indian conglomerates and foreign MNCs. This M & A experience includes handling listed and unlisted M&A transactions and in particular, a substantial amount of hands on dealing with issues under the SEBI Takeover Codes of 1997 and 2011. He is an expert in regulatory and general advisory aspects. Krishna’s experience also includes handling fraud investigations, dealing with investigators and devising strategies for the disclosure and resolution of findings made on conclusion of such investigations, including for listed companies. This experience also involved handling compounding and other remedial actions to be taken before different Indian regulators and for guiding Board and management teams of leading Indian and foreign MNCs on resolution of such matters. Krishna has also worked closely in structuring foreign direct investments under the Foreign Exchange Management Act 1999 and the FDI Policy in a variety of sectors, including into highly regulated areas such as tobacco manufacture & sales, handling issues under the erstwhile Foreign Exchange Regulation Act and other general corporate laws. He was a speaker at various conferences like M&A Summit 2016, Pharma Risk & Compliance Summit, Healthcare Technology at the StarUP event and Pharma Legal Compliance Summit. He has done his LL.B., University of Manchester (2004) LPC., Inns of Court School of Law – City University, and member of bar council of Mumbai and Goa.

Manish Kaushik

Sr.Vice President –Security

Home Credit India P Ltd

Manish Kaushik is a Senior Vice President & has over 17 years of experience in Fraud Control & Investigations he has successfully achieved lowest loss ratio in the industry and is working to create a safe and secure plat form for Home Credit India.

In his previous company “SBI Cards” his team was awarded as the Best Fraud Control team across the globe by GE in year 2012 and was given Leaders Award in 2013 by VISA for having best in class Fraud Management. Manish is the Vice President of Industry Forum for Fraud Prevention (IPCRC –North India) and is Guest Speaker/Faculty for Fraud Conferences and Police Training Academies

He also has the distinction of having worked for sales and marketing of products like Auto Loans, Automobiles, Consumer durables and various financial products. He therefore has a 360 degree view of challenges faced by the sales team and the fraud control teams in a competitive environment.

Manish is fond of reading and his passions are hiking and canines apart from Fraud Control.

Nagesh Pinge

Independent Director NKGSB Bank

Past President IIA,India

Nagesh Pinge is an Expert in Ethics, Corporate Governance, Risk Management & Internal Audit. He is a Chartered Accountant and Law Graduate. In a career spanning 34 years, Pinge has worked with many Organizations of repute. He retired from Tata Motors in November 2016 as Chief of Internal Audit, Risk Management & Ethics. Prior to that he has worked as Chief Internal Audit in Reliance Retail Ltd & JSW Steel Ltd. Mr. Pinge has also worked for ICICI Bank & its Group Companies in Risk Management (as Chief Risk Officer), Regulatory Compliance and Internal Audit (Group Head-Internal Audit). He is, currently an Independent Director of NKGSB Bank which is a Multi-State Scheduled Bank and its Vice-Chairman. He is also an Advisor to Privi Organics Limited which is Fairbridge (PE) Company.

Professional Outreach
  • Pinge is a “Thought Leader” in Internal Audit & Risk Management and works very closely with the Institute of Internal Auditors, Inc., USA Florida (IIA, Inc.). IIA, Inc. is a Global Professional Body of the Internal Auditors worldwide with a membership base of 200,000.
  • He is the Past President of the Institute of Internal Auditors, India.
  • He is also on the “International Internal Audit Standards Board” of the IIA, Inc.
  • He is a recipient of “ICAI” Award given by the Institute of Chartered Accountant of India for the year 2014 for his contribution to the Internal Audit fraternity in India.
  • Mr. Pinge has authored a technical guidance note on “Risk based Audit for Banks” being published by the Institute of Chartered Accountants of India in December, 2005.
  • A regular guest speaker at many conferences on Internal Audit and Risk Management in India and overseas. His presentations are very informative & he shares his rich experience & the global perspective.

Paul Meinshausen

Cofounder, PaySense

Individual Capacity

Paul Meinshausen is an experienced data scientist and data, product, and software executive. He has demonstrated success in recruiting and managing high performance data science teams and is skilled in mapping nuanced and complex problems to analytical and statistical methods that can help solve them. Paul is a cofounder of PaySense, a mobile fintech startup based in Mumbai, and was Chief Data Officer at the company until February 2017. Before cofounding PaySense, Paul was Vice President of Data Science at, where he led the Data Science Lab and the Product Analytics and Business Intelligence teams. Earlier he was Principal Data Scientist at Teradata and was a Data Science Fellow at the University of Chicago. He also served as a social scientist and analyst for the U.S. Department of the Army and deployed to Kabul, Afghanistan to the headquarters of the International Security Assistance Force in Afghanistan. Paul has an academic research background in behavioral science and was a researcher in the Department of Psychology at Harvard University and was a Fulbright Scholar in Turkey at the Middle East Technical University.

Rajnish Gupta

Director Sales


As Sales Head – RSA India & SAARC, Rajnish Gupta is responsible for supervising the sales and driving the company’s growth in the region.

Rajnish comes with a strong background in enterprise business encompassing technology solutions, services and business applications.

Rajnish moved to RSA from Symantec where he managed North, East region and Government business pan India. In past, he has also held senior level positions in Cadence, MindTree and Wipro, where he managed business applications, services, Infrastructure Technology Solutions, Systems Integration, and Project Management. Rajnish started his professional career with PCS in 1990.

21 + years of rich experience in the IT industry makes Rajnish knowledgeable in all the market segments of enterprise security space viz Customer Support, Project Management, Pre-Sales and Business management. Rajnish holds a degree in engineering and a PGDBA in Marketing Management.

Shashank Karnad

Partner and COO – Forensic Services


Shashank has over 21 years of professional experience in the areas of dispute advisory services, internal audit, corporate governance, fraud risk management and fraud investigations. In his 16 year career with KPMG’s Risk Consulting practice, Shashank has worked in various areas of risk management and corporate governance. In 2004, KPMG seconded Shashank as CFO of a Fortune-1000 NASDAQ-listed client’s Indian subsidiary, for a period of six months, where he played a leadership role. He led the launch of the Audit Committee Institute (ACI) in India and in March 2010, Shashank returned from United Arab Emirates, where he was seconded to the KPMG Lower Gulf practice in a leadership role. He had has led a large number of fraud investigations in the areas of financial misconduct, accounting misstatement, procurement, sales and distribution, human resources, fixed assets, intellectual property theft, bribery and corruption and softer issues such as victimisation and sexual harassment in addition to many dispute advisory engagements Shashank has also been cross-examined as an expert in arbitration matters. Shashank is also past-president of the Mumbai chapter of Toastmasters International, a public speaking association headquartered in the United States of America.

Somyajit Sethi

Partner – Forensic Advisory Services


Somyajit Sethi is a Partner with Forensic Advisory practice.He operates out of New Delhi-Gurgaon office and has over 15 years of experience in Forensic advisory, strategy consulting and investment research. He specialises in conducting Forensic investigations, and providing anti-fraud and anti-corruption advisory solutions. Prior to joining BDO, he has worked with larger firms at senior levels.

He has led over 50 Forensic engagements involving Forensic investigations, anti-fraud frameworks, fraud risk assessments, FCPA due diligence, end-use monitoring of funds, and anti-fraud awareness programs. Somyajit has also led & executed Forensic engagements in various international geographies including Kenya, Mexico, the USA, and Zambia. He has presented on numerous topics related to fraud and corruption.

Surath Mukherjee

Head - Internal Audit & Risk assurance

Dalmia Bharat Group

Mr. Mukherjee brings with him 22 years of experience in all aspects of accounting, auditing and financial management. Direct experience with the best corporate houses. He believes his biggest achievement in his current role is that he & his team are able to support & provide the business verticals a strong and durable control framework and risk mitigation platform based on which the company can achieve its ambitious future growth plans. Currently he is responsible for setting up a comprehensive Risk based internal audit program and execute audits in the cement, sugar and other business of the group. His role also requires him to supervise extensive IT audits on SAP software to authenticate the system, process controls & workflows, Fraud Risk Assessment & need based investigative audits.

Col. Sujeet Sinha

Head - Risk & Loss Mitigation and Cost Management

HDFC ERGO General Insurance Co. Ltd

Col. Sujeet Sinha is an alumnus of National Defence Academy, Pune. He is an MBA and an MCA from Pune University. He served in the Indian Army for 22 years in various capacities. Notable among those are that he was a member of the Expert Committee on Missile Fire Control System. He also served as the Intelligence and Operations advisor to the Govt. of Assam against ULFA insurgency and took part in Kargil war. Post taking voluntary retirement from the Indian Army in 2004, he is since then with the General Insurance Sector. At present, he is Head - Risk & Loss Mitigation and Cost Management with HDFC ERGO GIC Ltd. As a member of International Competence Centre of ERGO International, he delivered automated solution on Fraud Management for their various group companies.

Shivkumar Pandey

Chief Information Security Officer


Shivkumar Pandey is Chief Information Security Officer (CISO) in BSE Ltd. Shivkumar has 17+ years of industry experience in IT Service Delivery and Cyber Security across fast paced industries like BFSI, ITES & Telecommunication. He has been performing at leadership roles in Cyber Security and IT infrastructure Management across these organizations for past 15+ years.Prior to joining BSE Ltd as CISO, Shivkumar Pandey was associated with NPCI - CISO, Reliance JIO, SUD Life, Future Generali India, Kotak Mahindra, and TATA AIG. He has his Master in Information Management (MIM) and Bachelor of Engineering in Electronics & Telecomm from Mumbai University. He has in-depth understanding of securing Core Insurance Systems, Core Banking Systems, and Payment Systems (RuPay Cards, IMPS, CTS, NFS, UPI and NABCH payment systems). Shivkumar has extensive management and domain experience in driving the Information & Cyber Security programs in all key aspects i.e. Incident Response, Security Analytics, Threat Intelligence, Security Monitoring, Malware protection, Compliance, Policy, Standards (ISO 270001:2013 standards, PCI DSS 3.1 standards and BCMS ISO 22301) , Procedures, Awareness, Identity & Access Management, IT-GRC, Network Security, Cryptography, Data Protection, Third Party Management and Business Continuity Planning. He has rich experience in delivering simultaneous large scale, mission critical projects on time and within budget for multinationals and organizations of National significance. He has been honoured with “Top 100 CISO Awards” for 6 consecutive years from 2011 to 2016.

Vinod Menon

Regional Manager - South Asia

Bureau van Dijk

Venkatesh Subramaniam

Global Chief Information Security Officer

Ocwen Financial Solutions

Venkatesh has over twenty three years of experience and worked in diverse areas of security in critical sectors like finance and telecom, and in Fortune 50 companies globally. He is currently the Global CISO of Ocwen Financials – a highly strategic role where he is responsible for oversight of the entire security program and also heading the Business Continuity Office globally. Prior to this, he was the CISO for Idea Cellular & its subsidiaries - responsible and accountable for all aspects of Information Security - Plan, Build and Operate. He was also the head of the Business Continuity Management program, the Privacy Office, and overseeing the security assessment of the Payments Bank business. Venkatesh has been a speaker/panelist in many events and won several awards for information security. He has a strong academic background too - he is a Gold Medalist in Engineering from Jadavpur University, has an MBA from Faculty of Management Studies Delhi, and also holds a Masters Degree in Computer Science from Boston University

Vikas Kumar

Partner & Deputy CEO

TRC Consulting

Vikas is a qualified Chartered Accountant (FCA) with more than 24 years of post-qualification experience and overall more than 27 years of experience. He is a partner with T.R. Chadha & Co LLP since 1995 and also a director with TRC Consulting since 2002. He heads the Mumbai branch of the firm and supervises the south Indian operations of the firm with more than 250 employees reporting to him. He has extensive experience in Forensic Audits, Statutory Audits, Monitoring Audits, Business Advisory services, etc. in varied industries. He has specialized in the financial services sector. Over the years, he has also played a pivotal role in developing the consulting business of the firm which includes due diligence review, valuations, TEV Studies, mergers & acquisitions, etc.

Vipin Kashiram Surelia

Head Risk and compliance

Paytm India

Prof. Vaidyanathan Krishnamurthy

Resident Faculty, Indian School of Business

Visiting Faculty, University of Connecticut

Vaidya Nathan is a Resident faculty at the Indian School of Business, Mohali. Prior to joining ISB, he was an Assistant Professor in Residence at the School of Business, University of Connecticut and continues to hold a Visiting Faculty position there. Before becoming an academic, he was an an Investment Banker with JPMorganChase Bank in Hong Kong, New York, and Singapore and has advised financial institutions and corporates in Asia-Pacific region on hedging and risk management. He specializes in Credit Derivative, Foreign Exchange and Fixed Income products. He has also advised corporates in Telecom, Media and Technology space on mergers and acquisitions, divestiture, acquisition financing, capital structure advisory, alternative investments, and debt restructuring. He later co-founded Quantum Phinance, of which he is currently the Chairman. He is on the advisory board of the Venture Capital initiative of SIDBI. He is also a Consultant with the World Bank.

He holds a B.Tech in Electrical Engineering from Indian Institute of Technology (IIT), Kanpur, and an MBA from Indian Institute of Management (IIM), Ahmedabad. He is a certified Chartered Financial Analyst (CFA) from the CFA Institute, Charlottesville, and a Financial Risk Manager (FRM) by the Global Association for Risk Professionals (GARP), New York. He holds a PhD in Finance and has done his Post Doctoral Fellowship from Leavey School of Business, Santa Clara University.

He is a columnist with the Financial Express. He is the author of two books: Credit Risk Management for Indian Banks (Sage Publications, London) and Credit Derivatives (McGrawHill Education, New York). He won the Most Outstanding Faculty Award at the University of Connecticut, School of Business for the academic year 2014-15.