CORPORATE
GOVERNANCE

A commerce graduate and alumnus of the Wharton School of Management, Mr Ratan Jindal is the Chairman of India’s leading stainless steel manufacturer, Jindal Stainless. The company has an annual turnover of USD 4.75 billion (as of March’ 25) and is part of the over USD 38 billion OP Jindal Group. Incorporated in 1970 with its first unit in Hisar, Haryana, Jindal Stainless has grown from a producer of stainless steel products to a worldwide provider of innovative and sustainable stainless solutions, envisioning a stainless and corrosion-free future.

Jindal Stainless is ramping up its facilities to reach an annual melt capacity of 4.2 million tonnes by FY27. It has two stainless steel manufacturing complexes in India, in the states of Haryana and Odisha. Over the past years, the company has served key domestic sectors like railways, defence, automobiles, industrial, nuclear, coinage, razor blades and many more. Apart from this, Jindal Stainless has a strong international presence, as it exports its products to over 60 countries.

Jindal Stainless has a nationwide network of service centres under Jindal Stainless Steelway Limited, along with an international service centre in Spain, offering convenient, tailor-made solutions and just-in-time services to the doorsteps of its customers. Additionally, Jindal Stainless provides modern lifestyle and infrastructure solutions such as stainless steel kitchens, home and street furniture and other contemporary stainless steel products through its subsidiary, Jindal Lifestyle Limited.

Mr Jindal’s commitment to social welfare has transformed the educational and healthcare landscapes and empowered local communities through the creation of avenues for financial independence in Haryana and Odisha. In 2024, Mr Jindal was conferred with the Stainless Steel Executive of the Year 2024 by Steel and Metal Market Research (SMR) GmbH, an international independent market research organisation.

On the personal front, Mr Ratan Jindal is a keen golfer and takes an avid interest in tennis and cricket.

A Boston University graduate in Economics and Business Management, Mr Abhyuday Jindal has wide-ranging experience in project management, supply chain systems, and strategic and general management. Currently, he is the Managing Director of Jindal Stainless. Striving to forge stronger and wider public-private partnerships, he serves as the President of the Indian Chamber of Commerce (ICC) and the Co-Chair of CII’s Advisory Council of the Corrosion Management Division.

Mr Jindal started his career with the JSW Group. There, he played a prominent role in the stake acquisition of Ispat Industries and the post-acquisition integration of JSW and Ispat. He then moved on to the Boston Consulting Group, where he managed project consultancy for diverse industries, including cement, steel, wind turbines, and auto components. Having gained a deep understanding of the industrial manufacturing arena, Mr Jindal joined the USD 4.75 billion (as of March 2025) Jindal Stainless consortia, which is a part of the OP Jindal Group with an annual turnover of over USD 38 billion.

Driven by the ambition to go beyond the ordinary, Mr Jindal helped the company make concerted efforts to improve its supply chain and operational efficiencies. Today, he is shaping Jindal Stainless into a far more dynamic, responsive, predictive, and solution-based organisation. As a leader in the nation’s stainless steel landscape, Mr Jindal has explored and unlocked new avenues for providing stainless solutions to stakeholders with a vision towards sustainability and improving lives. Helmed by him, the organisation has built uncontested market leadership and made forays into new fields. Under his stewardship, the company bolstered its unique competitive advantage in manufacturing special stainless steel grades for the nuclear and defence sectors.

Mr Jindal has received widespread acclaim for his dynamic leadership and forward-thinking approach to business. In 2025, he was named the winner in the ‘Urban Visionary’ category of the prestigious BT-PwC India’s Best CEOs list, following his 2024 recognition in the ‘Mid-sized Companies’ category of the same ranking. That year, he was also listed among Business World’s Most Valuable CEOs and featured in the Economic Times’ esteemed ‘ET 40 Under 40’. Further affirming his commitment to social responsibility, he was honoured as India’s Next-Gen Philanthropy Leader of the Year by Hurun Report India in 2024. These accolades reflect not only his strategic acumen but also his deep commitment to sustainable growth, innovation, and societal impact.

With a strong belief in an atmanirbhar India, Mr Jindal’s community-centric transformational approach has led to the development and sustenance of several empowerment initiatives in and around Jindal Stainless’ production facilities. He personifies open and participative management, a consistent culture of dialogue and feedback, and a relentless march towards progress.

An industry veteran with 35 years of experience, Mr Tarun Kumar Khulbe has played an instrumental role in steering Jindal Stainless towards operational excellence and strategic growth. He was appointed Chief Executive Officer (CEO) in January 2024 after serving as Whole Time Director since 2018. In his current role as CEO and Director on the Board, Mr Khulbe provides overall leadership and is responsible for key strategic decisions across the organisation.

Mr Khulbe began his career with Raymond Steel, which later became part of ThyssenKrupp, Germany. He joined Jindal Stainless in October 2004 as General Manager of the Cold Rolling Mills in Hisar. In 2012, he was appointed Head of Stainless Steel Operations. In 2015, he was elevated to the role of Director and Chief Operating Officer (COO), leading major transformation initiatives across the business. In these roles, he gained comprehensive exposure to plant operations and led teams that delivered significant value and volume expansions.

Mr Khulbe holds a degree in engineering from MITS, Gwalior, and an MBA from Jamnalal Bajaj Institute of Management Studies, Mumbai.

Mr Jagmohan Sood is a techno-commercial leader with over three decades of operational, strategic, and technological expertise in the stainless steel industry. As Wholetime Director and Chief Operating Officer of Jindal Stainless, he is responsible for driving the company’s manufacturing, sourcing, and transformation agendas across all its manufacturing units.

Mr Sood leads enterprise-wide operations, overseeing plant performance, strategic sourcing, digital transformation, logistics and ESG initiatives. His role has been instrumental in executing the company’s growth roadmap – improving throughput, aligning projects with long-term capacity requirements, and embedding next-generation technologies across core and enabling functions. He also steers the group’s sourcing strategy, focusing on vendor partnerships, raw material security, and procurement resilience.

Mr Sood began his career with Steel Authority of India Limited (SAIL) before joining Jindal Stainless in 1995. Starting in Research & Development, he soon moved into plant operations and went on to lead key verticals, including the Specialty Product Division and the Cold Rolling Division. Over the years, he took on larger responsibilities across manufacturing, R&D, and sourcing, eventually heading operations at the Hisar plant. In 2017, he was appointed Whole-time Director and COO of Jindal Stainless (Hisar) Limited.

In 2024, Mr Sood was appointed Chief Operating Officer of Jindal Stainless Limited, with full operational responsibility for all manufacturing units, including Hisar and Jajpur. Under his leadership, Jindal Stainless expanded its melt capacity by 3,50,000 tonnes, strengthening backward and forward integration and operational resilience.

Mr Sood is a Gold Medallist in Metallurgical Engineering from Nagpur University and holds an MTech from IIT Bombay, where he ranked first in his department. He has also completed executive programmes at Harvard, IIM Ahmedabad, and MDI Gurgaon.

A graduate in Economics from Delhi University and a post-graduate in International Relations from the Jawaharlal Nehru University, Delhi, Ms Arti Luniya has 38 years of diverse experience in the steel industry. She has worked across various functions in the Steel Authority of India Limited (SAIL), giving her a well-rounded experience in strategy formulation & policy planning. From sales and marketing, international trade, corporate communication, to coal imports and risk management, Arti Luniya has rare insights into the supply chain and life cycle of products in the steel sector.

Subsequently, she joined Evidence for Policy Design (EPoD) at Harvard Kennedy School of Public Policy as an Advisor, where she engaged with government and other Public Policy planners on projects pertaining to governance, environment, gender empowerment & training. She has been associated with Jindal Stainless since July 2018.

Mr Jayaram Easwaran, an alumnus of the Indian Institute of Management, Bangalore (IIM-B), has over three decades of leadership experience across various functions in global corporations. These include heading Corporate Marketing, Finance and HR at the Eicher Group, HR at Sutherland Global Services and Tality India, Corporate Planning and Communications at Aricent Inc, Executive Vice President at Punj Lloyd and serving as the Joint MD and CEO at Maadhyam Advertising. A well-known management consultant and speaker, he has also been a winner of the National Competition for Young Managers by Business India and AIMA. Mr Easwaran is also the author of ‘Inside the C-Suite’, published by Harper Collins. He is also an Independent Director at Concord Biotech Ltd.

Dr Rajeev Uberoi is a career banker with specialisation in the area of Governance, Legal, Compliance and Control. He was CEO of IDFC Holding Finance Co. Ltd. and held senior responsibilities in various banks as General Counsel, Group Head Audit (IDFC Bank Ltd.), Group Senior President, Governance and Control (Yes Bank). Earlier, he had worked with several domestic and multinational banks such as Standard Chartered Bank, Union Bank of India, State Bank of India, Reserve Bank of India as an Assistant General Manager, Dept. of Banking Supervision, Citibank as Vice President & Regulatory Head; ANZ Grindlays Bank as Head of Risk Management & Compliance, India. Dr Uberoi is also a profound writer and has a lot of publications to his credit. He is also a member of various committees and has been active on the speaker circuit. He is a recipient of many accolades and awards, and his contribution to the legal fraternity has been recognised in the industry.

Dr Uberoi is a lawyer and a Canadian Commonwealth Scholar with a Master’s from McMaster University and a Ph.D. in Economics. He also possesses a Post Graduate Diploma in Business Administration from the Management Development Institute (MDI). Additionally, he was on the Board of MPCON Limited, IFCI Infrastructure Development Limited and NICDC Haryana Global City Project Limited. He has been a senior advisor to Shardul Amarchand Mangaldas, Unity Small Finance Bank, Bridgewater Tech Ltd. UK, Faarm Global Venture Pte Singapore, etc., and on the Board of Auvionpro Payment Solutions Pvt. Ltd., Shalimar Paints, Investment Trust of India Limited, Roadstar Investment, etc. Dr Uberoi has been mentoring many start-ups, especially in the area of digital financing, governance and control.

Ms Shruti (Kanodia) Shrivastava holds a B.A. LL.B. (Hons.) degree from National Law School of India University, Bengaluru, with a gold medal and is currently the Managing Partner of Sagus Legal. She has over 17 years of experience in general corporate advisory, M&A, private equity, venture capital, business restructuring, projects, insolvency, banking and finance. She advises clients across a wide range of industries spanning power, automobiles, manufacturing, chemicals, retail, real estate, hospitality, and infrastructure on complex legal, regulatory, and strategic matters.

Prior to founding Sagus Legal, she was a Partner in the corporate transactions team at Shardul Amarchand Mangaldas, New Delhi. She began her career at S&R Associates, New Delhi. She is on the Boards of listed and unlisted companies as an Independent Director. She has a keen interest in the safe use of technology and AI to improve efficiency and productivity.

Her distinguished recognitions include:

• Top 100 Women in Litigation – Asia-Pacific (2025) – Benchmark Litigation
• Litigation Star (Insolvency, India – 2025) – Benchmark Litigation
• India Top Lawyers: The A-List 2024–25 – India Business Law Journal
• Recommended Lawyer – Banking & Finance, Corporate & M&A (2025) – The Legal 500 Asia-Pacific
• Highly Regarded and Women Leader – Banking & Finance, Corporate & M&A – IFLR1000

Mr Ajay Mankotia pursued his B.A. in Economics (Honours) from St. Stephen’s College (Delhi University), followed by a Master’s Degree in Economics from the Delhi School of Economics, Delhi University. He has a Diplôme D’études Supérieures Spécialisées (DESS) in Diplomacy and Administration of International Organisations from the University of Paris-XI, Paris, a Diploma in International Economic Relations from the Institut International d’Administration Publique (IIAP), Paris, and a Bachelor’s Degree in Law (LLB) from the Law Centre, Delhi University.

Mr Ajay Mankotia joined the Indian Revenue Service in 1982 and has worked in a wide variety of posts in the Income Tax Department – Assessments, Appeals, Administration, Central Board of Direct Taxes, and Search and Seizure. During the course of his career, he was also deputed as Chief Vigilance Officer of a few public sector fertiliser companies and was deputed for foreign courses in Vigilance and Internal Affairs. When he was Commissioner of Income Tax, he decided to opt for Voluntary Retirement in 2008 after having spent 26 years as an IRS officer, and joined NDTV as President (Corporate Planning and Operations) and was a member of its Core Committee. He oversaw Tax, Shared Services, Legal, HR, Projects, and other corporate functions. He interacted with Industry Bodies, Ministries, Investigation authorities, SEBI, and Exchanges.

Since January 2018, he has been running his own Tax and Legal Advisory. He served as an Independent Director and Chairman of the Audit Committee at MPS Limited until the conclusion of his tenure earlier this year, and also held the position of Director at RSG Media Systems Pvt. Ltd.

Dr Aarti Gupta is a seasoned investment strategist who has been at the helm of her family office (DM Gupta Family, Jagran Group) as Chief Investment Officer for the past 14 years. She is also the Managing Partner at Anikarth Ventures, an angel-investing firm that invests in innovative early-stage start-ups with transformative solutions.

In her commitment to women’s entrepreneurship, Dr Gupta serves as the National Head for FICCI FLO Policy and Advocacy, focusing on women empowerment across sectors. She also contributes to the Boards of several family-owned businesses and start-ups, leveraging her expertise in investment strategy. Furthermore, as the founder of the Anikarth Foundation, she champions initiatives for women’s financial literacy, entrepreneurship, and job readiness.

A recognised TEDx speaker, Dr Gupta addresses financial literacy, entrepreneurship, investment strategies, and women empowerment. She gained recognition as an investor on India’s first reality start-up funding TV show, ‘Horses Stable’, where she sought companies with innovative solutions to significant problems. Recognised for her contributions, Inc42 listed her among the 30 Top Women Torchbearers in the country, and Priwexus honoured her as the ‘Woman in Family Office Thought Leader 2023’. She is also named among the world’s Top 50 Family Capital Investment specialists in the FamCap 50 list. She serves as the Vice-President on the Board of Harvard Alumni for Global Women’s Empowerment.

Dr Gupta’s academic credentials include a PhD in Economics from IIT Kanpur, a post-graduate diploma in business studies from Harvard University, and a Master’s degree in Economics from Northeastern University.