Board of Directors

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Mr. Padmanabh Barpande has over 3 decades of experience in audit and has served as an Audit Partner of Deloitte Haskins & Sells, Chartered Accountants and C. C. Chokshi & Co., Chartered Accountants. He joined the Board of PRIVI in March 2015. He has a wide experience of serving domestic and international clients and was actively involved in reformatting the accounts to US GAAP / IFRS for them as well as some of the Indian Banks. He is actively involved as speaker at seminars organized by Institute of Company Secretaries of India, Bombay Chartered Accountant Society, Institute of Chartered Accountants of India, Bombay Chamber of Commerce and Industry, Indian Merchants Chamber on topics related to Accounting Standards, Corporate Governance, IFRS / US GAAP, Companies Act etc
Mr. Mahesh P Babani
Managing Director
Mr. Mahesh P Babani took reins of the Company in 1989 and is the Managing Director since 2001. It has been his passion that has driven the Company from a startup to its current scale. He is involved in formulation of long term strategy, business development and financial management of the Company. Over the past 2 decades, he has travelled extensively across the globe and has deep knowledge of the entire value chain of Aroma Chemical Business. His knowledge extends from sourcing of raw materials to their processing and to the final consumers of Aroma Chemicals.
His vision, perseverance, motivation and extensive knowledge of global aroma chemical markets have helped PRIVI to reach the current position. He has strong relationships across the management level of PRIVI’s customers, suppliers and other stake holders. Mr. Mahesh Babani is a Commerce Graduate and has operational and managerial experience of over 30 years.He is serving as Director on the Boards of Babani Investment & Trading Pvt. Ltd, Satguru Enterprises Pvt. Ltd, Privi Biotechnologies Pvt. Ltd, Minar Ogranics Pvt. Ltd. and Satellite Technologies Pvt. Ltd
Mr. D. B. Rao
Executive Director
Mr. D. B. Rao is one of the founders of Privi and has been on the Board of Directors since 1982. Mr. Rao has been on the Board of Directors since 1982 and is a Whole-time Director designated as Executive Director of the Company since 2004.
Mr. D. B. Rao overseas Operations, Research & Development, Personnel and raw material sourcing.Mr. Rao has worked diligently in converting the vision of the Company to realty and has handled various projects right from their conception to completion. He has been instrumental in putting up the manufacturing facilities in a swift and cost effective manner and chartering the growth of the Company. His vast experience, in depth knowledge of chemicals and engineering has helped PRIVI to attain the current position. He takes keen interest in R & D activities of the Company, especially in developing green technologies.He is involved in the operations of the company and institutionalizing various processes in the management of the company.
He has contributed significantly in PRIVI’s growth and in creation of formidable organization structure of PRIVI. Mr. D. B. Rao is a post graduate in Engineering with over 33 years experience. He is a Director on the Boards of Minar Organics Pvt. Ltd., Privi Biotechnologies Pvt. Ltd., Vivira Chemicals Pvt. Ltd.,and Satellite Technologies Pvt. Ltd.
Shri Nahoosh Jariwala, born in the year 1961, is a commerce graduate. After graduation, in early eighties, he joined his father’s business of trading in textiles. The textile industry which was going strong during the previous decade of seventies, had started feeling pain in eighties. He thought of and put in practice of investing money in efficient purchasing rather than traditional system of giving long credits which was a different ball game while dealing with composite textile mills which were facing severe cash flow problems. He thus could avoid losing money in textile business and started looking for alternative business. In the meantime, he diverted his resources to investment in primary stock market by applying his business acumen in deciding where to invest and how much to invest, a novel concept in those years. Finally, in the year 1993, he joined hands, as a joint promoter, with his elder cousin (Shri Rajan Harivallabhdas) who had manufacturing background and who was contemplating entering into the said activity. This resulted into setting up of the business in which Fairchem is presently engaged in. His cousin was the major shareholder and was Chairman and Managing Director. Shri Nahooshbhai was Executive Director and was having lesser equity holding vis-à-vis his cousin. The business took off quite well in the year 1996 and was going steady when in late 2000, a shock in terms of substantial price erosion came in international market for sole product in which the company was engaged. This forced the promoters to look for additional alternative business falling in similar line and value added products. This continued in a steady manner till 2007. The period post September, 2008 (Lehman) crisis dealt a blow on the Company and in late 2009 / early 2010, Shri Rajanbhai decided to hand over the Company to someone else by selling his stake to protect the interest of shareholders, employees and other stakeholders. Shri Nahooshbhai decided to hang on as he had few ideas for revival of the Company. Early 2010 was the turning point for FSL (then known as H. K. Finechem Ltd. which was changed to Adi Finechem Limited and then to present name of Fairchem Speciality Ltd.) when Shri Nahooshbhai took charge as Managing Director of the Company. He immediately started de-bottlenecking the plant and concentrated on energy conservation process. This resulted in substantial reduction in per M.T. manufacturing cost and consequently profit increased. Going forward, he continued his focus in process optimization and cost reduction measures to beat the inflation and ensuring that per M.T. manufacturing cost remains range bound. His understanding about the engineering, processes, technical specifications of various products in which Company is engaged, understanding of market demand and its trend is unparalleled. He has been the sole driving force for the Company who knows almost all its 184 employees by name. He has been aptly handling all 3 U.S. multinational companies who buy one of our finished products which has an export market only as there are no `Natural Vitamin E’ manufacturing plant in India. His earlier exposure in textile trading has helped him a lot and is now possessing tremendous marketing skill in handling customers who on one hand are large and smart corporates and on the other hand small and medium customers where proprietor / partner is directly involved in purchases.
Mr. Rajesh Budhrani has been associated with PRIVI from 2005 as investor and Director. Mr Budhrani has guided the Company to new heights with his experience as investor and Director in various companies. Mr. Budhrani with his vast knowledge of global financial markets has played a major role in formulating financial plan and financial strategies and has personal relationships with the financial world which has often benefitted the Company. Over the years Mr. Budhrani has been associated with various companies where he has portfolio investments or direct equity investment. He oversees his family office in India – Budhrani Finance Limited with investments in excess of USD 100 million in Real Estate, Listed Equities and Private Equity. He has invested across the globe particularly in emerging markets and has formidable knowledge of global financial markets and global commodity markets. Mr. Rajesh Budhrani holds a degree in Bachelor of Science, Major in Finance & Accounting from Boston College School of Management and graduated Summa Cum Laude. He is also an active member in the Singapore Chapter of Young Presidents Organization. Mr. Budhrani is a Director on the Board of Budhrani Finance Ltd., Budhrani Realty Ltd., NES Pte Ltd and many other Companies. Mr. Budhrani also spends time assisting the family’s charitable foundation which supports various charitable organizations in Indonesia and India including the Inlaks & Budhrani Hospital, the Morbai Naraindas Budhrani Cancer Institute and the Fabiani & Budhrani Heart Institute in Pune India and the Life for Limbs program in Jakarta Indonesia.
Mr. Anurag Surana
Independent Director
Mr. Anurag Surana joined the Board of PRIVI in January 2014 and is an Independent Director. He has over 2 decades of experience in Chemical Industry and has brought immense value to the Board by providing inputs on manufacturing operations and management controls. Mr. Surana was associated with PI Industries as a Whole-time Director till September 2012. Presently, he is the Managing Director of KAGASHIN Global Network Private Limied. He is a Director on the Board of PI Industries Limited, PI Life Science Research Ltd. Kagashin Global Network (P) Ltd and Esco Agencies Pvt. Ltd.
Mr. Dwarko T Khilnani
Independent Director
Mr. Dwarko Khilnani joined the Board of PRIVI in June 2014 and is an Independent Director. He is an expert on Foreign Exchange Management Act (FEMA) having worked with RBI for 33 years. He has conducted various workshops on ‘NRI Investments’ and ‘FEMA’ all over the country including for Officers of the Enforcement Directorate at CBI Academy, Ghaziabad, IPS Training College at Karnal, Haryana and Jawaharlal Nehru University, New Delhi. He is a visiting faculty member of NISM, Bombay Stock Exchange Training Institute, Institute of Company Secretaries and many other training institutes. He is a forex advisor to Exactus.Com Ltd., a leading legal portal having offices in New York and metro cities of India. He is a prominent author of ‘Foreign Exchange Management Manual’, FEMA Ready Reckoner, both in their 26th Edition and various other books on Foreign Exchange and NRI Investments. He is B.A (Hons) in Economics and a Law graduate and is a Director on the Board of Blossom Industries Limited and SIDMAK (India) Labs Limited, Gharda Chemicals Ltd and a member of the Governing Council of Umrao Hospitals and Medical Research Institute.
Ms. Anuradha Thakur
Independent Director
Ms. Anuradha Thakur started her career as a Probationary Officer with State Bank of India (SBI) in 1973 and retired in 2007 as Chief General Manager, Corporate Accounts group. She managed diverse business requirements of top 500 customers of SBI arranging their loan syndications, international banking, project financing and liquidity requirements. She started a new business vertical to capture the business of mid-sized regional companies and has experience of diverse industries including petrochemicals, engineering goods and equipment, non-conventional energy, textiles and pharmaceuticals. Ms. Thakur is a Director of the National School of Banking and a visiting faculty in Symbiosis School of Business Management. Ms. Anuradha Thakur is a graduate in Arts (English Literature) from Pune University and a C.A.I.I.B. from the Indian Institute of Bankers. She is a Nominee Director of SBI on the Board of Patnaik Steel P Limited and a Director, Tata Capital Financial Services Limited. She joined the Board of PRIVI in March 2015.
Mr. Sumit Maheshwari
Additional Director
Mr Maheshwari has been associated with Privi since August 2018. He was designated the Managing Director and Chief Executive Officer of Fairbridge Capital in 2018. He had joined Fairbridge Capital, Mumbai, Fairfax Financial Holdings Limited's and Fairfax India Holdings Limited's India investment arm in 2011, from its inception and has been involved in and been a critical part of building the Fairbridge Capital organisation. Prior to joining Fairbridge, Mr. Maheshwari worked with KPMG in India for five years in their audit and accounting advisory functions. Mr. Maheshwari is a recognized accounting expert, with particular strength in translating between Indian GAAP, U.S. GAAP and IFRS accounting standards.
At Fairbridge, Mr. Maheshwari actively participates in financial due diligence, portfolio company reporting and overall transaction and investment advisory services. Mr. Maheshwari serves on the board of directors of National Collateral Management Services Limited, NCML Finance Private Limited and Fairchem Specialty Limited. He is a qualified Chartered Accountant, holds a Masters of Business Administration degree from the Indian School of Business, Hyderabad, and a Bachelors of Commerce degree from the University of Mumbai. Mr. Maheshwari is a resident of Mumbai, Maharashtra, India.

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