You are on page 1of 11

1he lllL (lndla lnfollne) group comprlslng Lhe holdlng company lndla lnfollne LLd (nSL lnulAlnlC 8SL

332636) and lLs subsldlarles ls one of Lhe leadlng players ln Lhe lndlan flnanclal servlces space lllL
offers advlce and execuLlon plaLform for Lhe enLlre range of flnanclal servlces coverlng producLs ranglng
from LqulLles and derlvaLlves CommodlLles WealLh managemenL AsseL managemenL lnsurance llxed
deposlLs Loans lnvesLmenL 8anklng Col bonds and oLher small savlngs lnsLrumenLs lllL recenLly
recelved an lnprlnclple approval for SecurlLles 1radlng and Clearlng membershlps from Slngapore
Lxchange (SCx) pavlng Lhe way for lllL Lo become Lhe flrsL lndlan brokerage Lo geL a membershlp of Lhe
SCx lllL also recelved membershlp of Lhe Colombo SLock Lxchange becomlng Lhe flrsL forelgn broker Lo
enLer Srl Lanka lllL owns and manages Lhe webslLe wwwlndlalnfollnecom whlch ls one of lndla's
leadlng onllne desLlnaLlons for personal flnance sLock markeLs economy and buslness lllL has been
awarded Lhe '8esL 8roker lndla' by llnanceAsla and Lhe 'MosL lmproved brokerage lndla' ln Lhe
AslaMoney polls lndla lnfollne was also ad[udged as 'lasLesL Crowlng LqulLy 8roklng Pouse Large
flrms' by uun 8radsLreeL A forerunner ln Lhe fleld of equlLy research lllL's research ls acknowledged
by none oLher Lhan lorbes as '8esL of Lhe Web' and 'a musL read for lnvesLors ln Asla' Cur research ls
avallable noL [usL over Lhe lnLerneL buL also on lnLernaLlonal wlre servlces llke 8loomberg 1homson llrsL
Call and lnLerneL SecurlLles where lL ls amongsL one of Lhe mosL read lndlan brokers A neLwork of over
2300 buslness locaLlons spread over more Lhan 300 clLles and Lowns across lndla faclllLaLes Lhe smooLh
acqulslLlon and servlclng of a large cusLomer base All our offlces are connecLed wlLh Lhe corporaLe
offlce ln Mumbal wlLh cuLLlng edge neLworklng Lechnology 1he group caLers Lo a cusLomer base of
abouL a mllllon cusLomers over a varleLy of medlums vlz onllne over Lhe phone and aL our branches
llll/loJlo lofolloe tefet to loJlo lofolloe ltJ ooJ lts sobslJlotles/ qtoop compooles

Board of directors

Mr. Nirmal

Chairman , India
InIoline Ltd.

Mr. Nirmal Jain is the Iounder and Chairman oI India InIoline Ltd. He is a PGDM (Post
Graduate Diploma in Management) Irom IIM (Indian Institute oI Management) Ahmedabad, a
Chartered Accountant and a rank-holder Cost Accountant. His proIessional track record is
equally outstanding. He started his career in 1989 with Hindustan Lever Limited, the Indian
arm oI Unilever. During his stint with Hindustan Lever, he handled a variety oI
responsibilities, including export and trading in agro-commodities. He contributed immensely
towards the rapid and proIitable growth oI Hindustan Lever`s commodity export business,
which was then the nation`s as well as the Company`s top priority.

He Iounded Probity Research and Services Pvt. Ltd. (later re-christened India InIoline) in
1995; perhaps the Iirst independent equity research Company in India. His work set new
standards Ior equity research in India. Mr. Jain was one oI the Iirst entrepreneurs in India to
seize the internet opportunity, with the launch oI in 1999. Under his
leadership, India InIoline not only steered through the dotcom bust and one oI the worst stock
market downtrends but also grew Irom strength to strength.

Mr. R.

Director , India
InIoline Ltd.

Mr. R Venkataraman, Co-Promoter and Executive Director oI India InIoline Ltd, is a B.Tech
(electronics and electrical communications engineering, IIT Kharagpur) and an MBA (IIM
Bangalore). He joined the India InIoline Board in July 1999. He previously held senior
managerial positions in ICICI Limited, including ICICI Securities Limited, their investment
banking joint venture with J P Morgan oI US, BZW and Taib Capital Corporation Limited. He
was also the Assistant Vice President with G E Capital Services India Limited in their private
equity division, possessing a varied experience oI more than 19 years in the Iinancial services

Mr. Nilesh

Director , India
InIoline Ltd.

Mr. Nilesh Vikamsey Board Member since February 2005 - is a practicing Chartered
Accountant Ior 25 years and Senior Partner at M/s Khimji Kunverji & Co., Chartered
Accountants, a member Iirm oI HLB International, a world-wide organisation oI proIessional
accounting Iirms and business advisers, ranked amongst the top 12 accounting groups in the
world. Mr. Vikamsey headed the audit department till 1990 and thereaIter also handled
Iinancial services, consultancy, investigations, mergers and acquisitions, valuations and due
diligence, among others. He is elected member oI the Central Council oI Institute oI Chartered
Accountant oI India (ICAI), the Apex decision making body oI the second largest accounting
body in the world, 20102013.

He is on the ICAI study group member Ior the introduction oI the Accounting Standard 30
on Iinancial instruments recognition and management. Convener oI the Study group
Formed by ASB oI ICAI to Iormulate comments on various Exposure DraIts, Discussion
Papers and other matters pertaining to IFRS originating Irom IASB, Representative oI the
Institute oI Chartered Accountants oI India on the Committee Ior Improvement in
Transparency, Accountability and Governance(ITAG) oI South Asian Federation oI
Accountants (SAFA), Member oI Executive Committee & IFRS Implementation Committee
oI WIRC oI Institute oI Chartered Accountant oI India (ICAI), Accounting and Auditing
Committee oI Bombay Chartered Accountant Society (BCAS) and also on its Core Group,
member oI Review, ReIorms & Rationalisation Committee, IPR Committee oI Bombay
Chamber oI Commerce and Industry (BCCI), Member oI Legal AIIairs Committee oI
Bombay Chamber oI Commerce and Industry(BCCI), Corporate Members Committee oI The
Chamber oI Tax Consultants (CTC), Regular Contributor to WIRC Annual ReIerencer on
'Bank Branch Audit, Study/ Sub Group Iormed by ICAI Ior Considering Developments on
Fair Value Accounting (AS 30) post Sub Prime crisis, Sub Group Iormed by ICAI Ior
approaching the Government and Regulatory Authorities Ior Convergence with IFRS.

He is also a Vice Chairman oI Financial Reporting Review Board Accounting Standard Board
and Member oI Accounting Standard Board and various other Standing and Non Standing
Committees. Mr. Vikamsey is also a Director oI Miloni Consultants Private Limited, HLB
OIIices and Services Private Limited, Trunil Properties Private Limited, BarKat Properties
Private Limited and India InIoline Investment Services Limited.

Mr. Kranti

Director , India
InIoline Ltd.

Mr. Kranti Sinha Board member since January 2005 completed his masters Irom the
Agra University and started his career as a Class I OIIicer with LiIe Insurance Corporation oI
India. He served as the Director and ChieI Executive oI LIC Housing Finance Limited Irom
August 1998 to December 2002 and concurrently as the Managing Director oI LICHFL Care
Homes (a wholly-owned subsidiary oI LIC Housing Finance Limited). He retired Irom the
permanent cadre oI the Executive Director oI LIC; served as the Deputy President oI the
Governing Council oI Insurance Institute oI India and as a member oI the Governing Council
oI National Insurance Academy, Pune apart Irom various other such bodies. Mr. Sinha is also
on the Board oI Directors oI Hindustan Motors Limited and Cinemax (India) Limited.

Mr. A. K.

Director , India
InIoline Ltd.

Mr. Purwar is currently the Chairman oI IndiaVenture Advisors Pvt. Ltd., investment manager
to IndiaVenture Trust Fund I, the healthcare and liIe sciences Iocussed private equity Iund
sponsored by the Piramal Group. He has also taken over as the Chairman oI IL & FS
Renewable Energy Limited in March 2008 and India InIoline Investment Services Ltd in
November 2009. He is working as Independent Director in leading companies in Telecom,
Steel, Textiles, Power, Auto components, Renewable Energy, Engineering Consultancy,
Financial Services and Healthcare Services. He is an Advisor to Mizuho Securities in Japan
and is also a member oI Advisory Board Ior Institute oI Indian Economic Studies (IIES),
Waseda University, Tokyo, Japan.

Mr. Purwar was the Chairman oI State Bank oI India, the largest bank in the country Irom
November 02 to May `06 and held several important and critical positions like Managing
Director oI State Bank oI Patiala, ChieI Executive OIIicer oI the Tokyo branch covering
almost the entire range oI commercial banking operations in his illustrious career at the bank
Irom 1968 to 2006. Mr. Purwar also worked as Chairman oI Indian Bank Association during
2005 2006. Mr. Purwar has received the 'CEO oI the year Award Irom the Institute Ior
Technology & Management (2004); 'Outstanding Achiever oI the year Award Irom Indian
Banks` Association (2004); 'Finance Man oI the Year Award by the Bombay Management
Association in 2006.

istory & Milestones


Commenced operations as an Equity Research Iirm


Launched research products oI leading Indian companies, key sectors and the economy
Client included leading FIIs, banks and companies.




Launched online trading through Started distribution oI liIe insurance and
mutual Iund


Launched proprietary trading platIorm Trader Terminal Ior retail customers


Acquired commodities broking license
Launched PortIolio Management Service


Maiden IPO and listed on NSE, BSE


Acquired membership oI DGCX
Commenced the lending business


Commenced institutional equities business under IIFL
Formed Singapore subsidiary, IIFL (Asia) Pte Ltd


Launched IIFL Wealth
Transitioned to insurance broking model


Acquired registration Ior Housing Finance
SEBI in-principle approval Ior Mutual Fund
Obtained Venture Capital license


Received in-principle approval Ior membership oI the Singapore Stock Exchange
Received membership oI the Colombo Stock Exchange

(ndia nfoline td) - Corporate

s philosophy on Corporate Governance

IIFL (India InIoline) is committed to placing the Investor First, by continuously striving to
increase the eIIiciency oI the operations as well as the systems and processes Ior use oI corporate
resources in such a way so as to maximize the value to the stakeholders. The Group aims at
achieving not only the highest possible standards oI legal and regulatory compliances, but also oI
eIIective management.
Audit Committee
Terms oI reIerence & Composition, Name oI members and Chairman: The Audit committee
comprises Mr Nilesh Vikamsey (Chairman), Mr Sat Pal Khattar, Mr Kranti Sinha, three oI whom
are independent Directors. The Managing Director, the Executive Director along with the
Statutory and Internal Auditors are invitees to the Meeting. The Terms oI reIerence oI this
committee are as under: - To investigate into any matter that may be prescribed under the
provisions oI Section 292A oI The Companies Act, 1956 - Recommendation and removal oI
External Auditor and Iixation oI the Audit Fees. - Reviewing with the management the Iinancial
statements beIore submission oI the same to the Board. - Overseeing oI Company`s Iinancial
reporting process and disclosure oI its Iinancial inIormation. - Reviewing the Adequacy oI the
Internal Audit Function.
Compensation/ Remuneration Committee
Terms oI reIerence & Composition, Name oI members and Chairman: The Compensation /
Remuneration Committee comprises Mr Kranti Sinha (Chairman), Mr Nilesh Vikamsey and Mr.
Sat Pal Khattar all oI whom are independent Directors. The Terms oI reIerence oI this committee
are as under: - To Iix suitable remuneration package oI all the Executive Directors and Non
Executive Directors, Senior Employees and oIIicers i.e. Salary, perquisites, bonuses, stock
options, pensions etc. - Determination oI the Iixed component and perIormance linked incentives
alongwith the perIormance criteria to all employees oI the company - Service Contracts, Notice
Period, Severance Fees oI Directors and employees. - Stock Option details: whether to be issued
at discount as well as the period over which to be accrued and over which exercisable. - To
conduct discussions with the HR department and Iorm suitable remuneration policies.
Share Transfer and nvestor Grievance Committee
Details oI the Members, Compliance OIIicer, No oI Complaints received and pending and
pending transIers as on close oI the Iinancial year. The committee Iunctions under the
Chairmanship oI Mr Kranti Sinha, a Non-executive independent Director. The other Members oI
the committee are Mr. Nirmal Jain and Mr. R Venkataraman. Ms Sunil Lotke, Company
Secretary is the Compliance OIIicer oI the Company.

CSR nitiatives

CSR activities oI IIFL Foundation
In line with our vision to be the most respected company in the Iinancial services space`, we
recognize the importance oI contributing to and sustaining social transIormation. With this
end in mind, we have setup the IIFL Ioundation, which will work Ior the support and
upliItment oI the underpri...

n line with our vision to be the most respected company in the financial services space
we recognize the importance of contributing to and sustaining social transformation. With
this end in mind we have setup the foundation which will work for the support and
upliftment of the underprivileged sections of society.

The IIFL Foundation Iocuses on speciIic areas oI need such as healthcare and education, the
Ioundation will screen and select institutions and developmental agencies which are working in
these domains and will provide necessary aid to improve the lives oI the underprivileged and
help them in achieving their potential.

Some oI the activities undertaken by the IIFL Foundation:

Barsana eye camp
The IIFL Foundation sponsored an eye and dental camp held in February, 2010 with the support
oI expert doctors and surgeons Irom the Bhaktivedanta Hospital in Barsana near Mathura. While
over 2,600 people underwent eye tests and over 800 were selected Ior Iree eye surgery, a total oI
over 1,800 dental procedures like extraction, scaling and Iilling, among others, were perIormed.
Team IIFL provided its whole-hearted support to this noble cause and will continue to do so in
the Iuture.

Pandharpur medical camp
The IIFL Foundation sponsored the Pandharpur medical camp which was held by the
Bhaktivedanta Hospital in July 2010 at Pandharpur. Free medical treatment was given at 4 camp
sites, to approximately 49,815 pilgrims who had come to Pandharpur during Ashadi Ekadashi.
The pilgrims were treated Ior Iever, injuries, Iractures, gastroenteritis, myalagia, headache,
epilepsy, malaria, respiratory inIections etc, during the camp.

Blood donation drive
IIFL regularly organizes blood donation drives via camps at its various locations across India.
Over 800 employees have participated in these camps.


We are a one-stop financial services shop most respected for quality of its advice
personalized service and cutting-edge technology.


IIFL is a member oI BSE and NSE registered with NSDL and CDSL as a depository participant
and provides broking services in the cash, derivatives and currency segments, online and oIIline.
IIFL is a dominant player in the retail as well as institutional segments oI the market. It recently
became the Iirst Indian broker to get a membership oI the Colombo Stock Exchange and is also
the Iirst Indian broker to have received an in-principle approval Ior membership oI the Singapore
Stock Exchange. IIFL`s Trader Terminal, its proprietary trading platIorm, is widely
acknowledged as one oI the best available Ior retail investors. Investors opt Ior IIFL given its
unique combination oI superior Service, cutting-edge proprietary Technology, Advice powered
by world-acclaimed research and its unparalleled Reach owing to its over 2500 business
locations across over 500 cities in India.

IIFL received the BQ1 broker grading (highest grading) Irom CRISIL. The assigned grading
reIlects an eIIective external interIace, robust systems Iramework and strong risk management.
The grading also reIlects IIFL`s healthy regulatory compliance track record and adequate credit
risk proIile.

IIFL`s analyst team won Zee Business` India`s best market analysts awards 2009` Ior being
the best in the Oil and Gas and Commodities sectors and a Iinalist in the Banking and IT sectors.

IIFL has rapidly emerged as one oI the premier institutional equities houses in India with a team
oI over 25 research analysts, a Iull-Iledged sales and trading team coupled with an experienced
investment banking team.

The Institutional equities business conducted a very successIul Enterprising India` global
investors` conIerence in Mumbai in March 2010, which was attended by Iunds with aggregate
AUM over US$5 trillion and CEOs and other executives representing corporates with a
combined market capitalization oI over US$500 billion. The Discover Sri Lanka` global
investors` conIerence, held in Colombo in July 2010, was attended by more than 50 leading
global and major local investors and 25 Sri Lankan corporates, along with senior Government

Contact Us Ior Retail broking
Tel: 91-44- 40071000

Contact Us Ior Institutional Equities
Tel: 91-22-46464600

IIFL oIIers commodities trading to its customers vide its membership oI the MCX and the
NCDEX. Our domain knowledge and data based on in depth research oI complex paradigms oI
commodity kinetics, oIIers our customers a unique insight into behavioral patterns oI these
markets. Our customers are ideally positioned to make inIormed investment decisions with a
high probability oI success.

Contact Us Ior Commodities
Tel: 91-22-40077105

India InIoline Commodities Ltd
143, MGR Road, Perungudi,
Chennai, Tamil Nadu - 600 096

Credit and finance
IIFL oIIers a wide array oI secured loan products. Currently, secured loans (mortgage loans,
margin Iunding, loans against shares) comprise 94 oI the loan book. The Company has
discontinued its unsecured products. It has robust credit processes and collections mechanism
resulting in overall NPAs oI less than 1. The Company has deployed proprietary loan-
processing soItware to enable stringent credit checks while ensuring Iast application processing.
Recently the company has also launched Loans against Gold.

Contact Us Ior Loans
Tel: 91-22- 28710625

IIFL entered the insurance distribution business in 2000 as ICICI Prudential LiIe Insurance Co.
Ltd`s corporate agent. Later, it became an Insurance broker in October 2008 in line with its
strategy to have an open architecture` model. The Company now distributes products oI major
insurance companies through its subsidiary India InIoline Insurance Brokers Ltd. Customers can
choose Irom a wide bouquet oI products Irom several insurance companies including Max New
York LiIe Insurance, MetLiIe, Reliance LiIe Insurance, Bajaj Allianz LiIe, Birla SunliIe, LiIe
Insurance Corporation, Kotak LiIe Insurance and others.

Wealth Management Service
IIFL oIIers private wealth advisory services to high-net-worth individuals (HNI) and corporate
clients under the IIFL Private Wealth` brand. IIFL Private Wealth is managed by a qualiIied
team oI MBAs Irom IIMs and premier institutes with relevant industry experience. The team
advises clients across asset classes like sovereign and quasi-sovereign debt, corporate and
collateralised debt, direct equity, ETFs and mutual Iunds, third party PMS, derivative strategies,
real estate and private equity. It has developed innovative products structured on the Iixed
income side.

It also has tied up with Interactive Brokers LLC to strengthen its execution platIorm and provide
investors with a global investment platIorm.

Contact Us Ior Wealth Management Services
Contact name: Anisha Shah
Tel: 91-22-3958 5600 / 91 9004094893

nvestment Banking
IIFL`s investment banking division was launched in 2006. The business leverages upon its
strength oI research and placement capabilities oI the institutional and retail sales teams. Our
experienced investment banking team possesses the skill-set to manage all kinds oI investment
banking transactions. Our close interaction with investors as well as corporates helps us
understand and oIIer tailor-made solutions to IulIill requirements.

The Company possesses strong placement capabilities across institutional, HNI and retail
investors. This makes it possible Ior the team to place large issues with marquee investors.

In FY10, the team advised and managed more than 10 transactions including Iour IPOs and Iour
QualiIied Institutions Placements

Contact Us Ior Investment Banking
Tel: 91-22-4646 4600