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Association of Financial Advisors of India Knowledge Series in collaboration with Resurgent India and ICICI Bank Presents a Virtual Seminar on "Financing for MSME  Exporters" Friday, December 27th, 2024 | 4:00 PM to 5:30 PM
 
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AFAI Leadership

Jyoti Prakash Gadia

President, AFAI

Managing Director, Resurgent India Ltd.

Rajesh Sheshmal Kothari

Joint President, AFAI

Director, Dream Corporation Pvt Ltd.

Mr. Mahir Kumar Sahu

Vice President, AFAI

Managing Partner, Anil Mihir & Associates

Ashwin Pranlal Mehta

Founder Member, AFAI

Managing Director, Pankti Management Pvt Ltd

Rajesh Mittal

Founder Member, AFAI

Chairman, Alamak Capital Advisors Pvt Ltd

Ranjit Khattar

Founder Member, AFAI

Managing Partner, Goldrush Capital Services Pvt Ltd

Vikram Kumar

Founder Member, AFAI

Financial Advisor

Ashish Agarwal

Founder Member, AFAI

Director, Resurgent India

K K Gupta

Director AFAI

Mr. Pratik Jain

Founder Member, AFAI

From the President's desk

Over the course of the last decade, India has stolen a march over several emerging economies, helped in good measure by the reforms undertaken by the RBI and the central and state governments. We, nonetheless, still need to go the distance for the stakeholders to repose complete trust in the financial ecosystem.

Several Western economies have regulatory frameworks that bind the borrower, the lender, the arranger, and other stakeholders by a common thread. In India, the regulatory oversight is still fragile; only banks and borrowers are regulated, while syndicators have a free run. There is a tendency to undertake transactions which aren’t genuine, or which are quick revenue-churners for the syndicators.

Nor do we have entry barriers or eligibility criteria for syndicators. Anyone who can patch in a borrower or lender together can refer to himself as a syndicator. Concerns have also been raised in some quarters around norms for disclosures of the types and the volume of transactions undertaken, and specifics of defaults in the recent transactions.

Also, the imperative to adapt to evolving technologies, changing regulatory compliance demands, and the ethical considerations inherent to their roles warrant continual supplementary training and knowledge exchange.

We, as an association, are dedicated to fostering a more transparent and reliable financial ecosystem in India. AFAI is committed to working closely with regulators and industry stakeholders to strengthen regulatory oversight, and enhance transparency through improved disclosure norms. We will continue to provide our members with opportunities for ongoing training and knowledge sharing to ensure they remain at the forefront of financial innovation and ethical practices.

Jyoti Prakash Gadia

President, AFAI

AFAI FUNCTIONAL COMMITTEES

Membership Committee 

The key responsibilities of the Membership Committee:

  • 1. Identifying the needs of members and recommending pertinent services
  • 2. Increasing Membership and recommending means for increasing AFAI’s membership base
  • 3. Welcoming New Members and recommending ways to acknowledge new members and to encourage them to participate in AFAI activities.
  • 4. Identifying needs of non-members

Ethics Committee

The key responsibilities of the Ethics Committee:

  • 1. To devise ethical standards and practices for AFAI and its members
  • 2. To review and maintain highest ethical standards in the functioning and delivery of service to all stakeholders .
  • 3. To take Suo Moto cognizance of complaints/disputes and resolve the same
  • 4. The place before the General Council any enquiry report of a member of the Association.

Programme Committee

Key responsibilities of the Programme Committee:

  • 1. Organizing virtual and physical activities for the association
  • 2. Inviting the main speakers/presenters for talks, workshops, and/or panel discussions
  • 3. Identify the chairperson and co-chairperson for the program. In designing the program, the committee should be mindful of costs and budgetary restrictions
  • 4. Monitoring and reviewing operation of programs
  • 5. Arrange sponsorship for the program
  • 6. Seeking feedback from the members on the activities of the Association

Finance Committee

The key responsibilities of the Finance Committee:

  • 1. Review and provide guidance on the organisation’s financial matters
  • 2. Assure adequate internal controls and independent audit of the organisation.
  • 3. Review all financial statements and reports on financial activities to be presented to the General Council
  • 4. Review of the organisations’ revenue and expenditure, balance sheet, investments and other matters.
  • 5. Approve the annual budget and submit it to the General Council for its approval
  • 6. Ensure that adequate policies and procedures are in place

Government Interface Committee

The key responsibilities of the Government Interface Committee:

  • 1. Policy advocacy and raising industry’s challenges and concerns
  • 2. To share various suggestions on Government Policies and Procedures.
  • 3.Engage in pre-budget consultations with various Government Ministries and Agencies to submit the detailed pre-budget recommendations to the Government.
  • 4. To foster efficiencies in the governments’ decision making processes related to “schemes, projects, policies and fund utilization“.

Objective:

To act in accordance with the Vision and Mission of AFAI, in their respective areas of expertise, and plan and organize events for its members and customers.

Role:

  • To develop the strategies and plans for successful conduct of the AFAI events and provide senior level guidance and support to enable the AFAI Secretariat to execute them effectively.
  • To visualize, strategies, plan, review and provide resources.

Structure:

  • The President will appoint eminent professionals as Chairman and Co-Chairman of Functional Committees, who will form the committee with around 12 members, who will be chosen on the basis of their experience, expertise and standing in their respective fields.
  • The Chairman, Co-Chairman and members of the functional committee should devote adequate time and effort towards AFAI activities. The members of the committee can come from outside AFAI. However, they need to become individual or organizational members of AFAI.

General Rules

  • To develop the strategies and plans for successful conduct of the AFAI events and provide senior level guidance and support to enable the AFAI Secretariat to execute them effectively.
  • To visualize, strategies, plan, review and provide resources.
  • Chairman/Co-Chairman shall plan the activities for the Association.
  • Each Functional Committee will organize and conduct major programs every year and assist AFAI Secretariat in organizing routine seminars/workshops/lecture meetings every quarter.
  • Arrange sponsorship for their programs. Functional Committee will ensure adequate revenue flow and share the income and expenditure of the program with the General Council. Chairman of functional committees will be ‘Special Invitees’ to the Council and will brief the members of the General Committee on the programs conducted and revenue generated by their committee.
  • Half yearly and annual report of Functional Committees’ activities will be shared with the General Council

Code of Conduct:

  • Functional Committee members should adhere to AFAI’s rules in letter and spirit
  • All chairs will convene committee meetings and conferences on a regular basis at least once in two months.
  • All chairs will be responsible for maintaining discipline and participation in the meetings.
  • All chairs will be responsible for maintaining discipline and participation in the meetings.
  • It will be the responsibility of the Chairman of the Committee to ensure that the members participate in the meetings. The AFAI Secretariat will extend its support in arranging the meetings.

POWERS, FUNCTIONS AND DUTIES OF THE GENERAL COUNCIL, AFAI

The Council shall the following powers, functions and duties:
  • a) The General Council may meet for the conduct of the business at least once in every three calendar months.
  • b) Notice of the Council Meeting shall ordinarily be given twenty one days’ notice in advance in writing(by mail) to each member under the direction of the President stating the date, time, place and t h e Agenda of business to be transacted at the meeting except in the case of emergency.
  • c) Any Eight members shall constitute the quorum at Council meetings. If within half an hour of the time the quorum is not present, the meeting shall stand adjourned to a date, time and place to be fixed by the President.
  • d) Questions arising at any meeting of the General Council shall be decided by simple majority.
  • e) Minutes of proceedings of every meeting to be recorded and circulated to the members after the approval of the President within thirty days of the conclusion of every meeting.
  • f) The General Council approve the Founder/ Patron/Co-opted members to the council.
  • g) The General Council may select a Chairperson/Co-Chairperson of the Functional Committee
  • h) To admit, remove or suspend a member
  • i) The General Council will, from time to time, decide amendments to the entrance fees and Annual subscription rates for various categories of membership of AFAI.
  • j) To manage the finance of the AFAI
  • k) To approve the financial expenditure of the association
  • l) To fix authority to determine manpower requirements, their selections, remuneration, terms & conditions of service and termination of service
  • m) To execute and sign all documents and to enter into contracts or engagements on behalf of the Association
  • n) To prepare and present to the Annual General Meeting the Annual Report and Audited Statement of Accounts of the Association
  • o) Extraordinary General meeting of the AFAI may be convened by the Council of its own accord.
  • p) To purchase any property for AFAI at such price and on such terms and conditions, as it may think fit;
  • q) To exercise borrowing powers and to obtain credits for the AFAI and to exercise same in the name, and on behalf of the AFAI
  • r) To make necessary rules or bye-laws for the management of the affairs of the AFAI and to make amendments thereto
  • s) To frame rules in regard to the nominations/election of members to the Council
  • t) To recommend amendment of these Regulations
  • u) To set aside out of the funds of the AFAI such sums as it my and proper as a reserve for purchase of land, buildings and other properties for the AFAI
  • v) One or more accounts in the name of AFAI may be opened in any bank as may be decided by the Council from time to time. The Council shall also be empowered to decide as to who shall operate the various bank accounts of the AFAI and in what manner and to what extent.
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