Board of Directors

We provide access to financial solutions empowering people living in poverty to transform their lives, their children’s future and their community.

Arman has a nine-member Board. All the Board members are well qualified and experienced professionals. Four of the Board members including the Chairman, are independent directors. The Chairman, Shri Chinubhai Shah, has 40 years of experience in corporate sector. He was the president of Gujarat Chamber of Commerce Industry and was a guest faculty for courses in law and management to various universities and institutes of repute including Gujarat University and IIM, Ahmedabad. He shows keen interest in the area of corporate governance and is the president of Gujarat Investors’ and Shareholders’ Association.

Name
Mr. Chinubhai R. Shah
Designation
Chairman (Independent)
Qualification
M. A. LL.M. (Gold Medalist), DLP, DTP, Life Fellow AIMA
Experience

More than 40 years of Senior Managerial and Board level experience in the corporate sector finally ending with M.D. position at the Ahmedabad Electricity Co. Ltd. Served as Professor of Law & Management at Gujarat University and Indian Institute of Management, Ahmedabad, for more than 25 years Guest Lecturer at ASCI, Hyderabad, MDI, New Delhi, AIMA, New Delhi as well as to many other institutions for than two decades, in the subjects of corporate laws, joint ventures, foreign collaborations and capital market. Mr. C. R. Shah serves on the Board of many reputed Companies of India like Nirma Ltd., Meghmani Organics Ltd., Gujarat NRE Coke Ltd., H.K. Finechem Ltd., Tinplate Company of India Ltd. (Tata Company), Cadila Pharma Ltd., Adani Enterprises, Torrent Power, Apollo Hospitals, Doshion Limited etc.

His Affiliations
  • Member, Board of Governors of Indian Institute of Management, Ahmedabad [1992-97]
  • President, Gujarat Chamber of Commerce & Industry, Ahmedabad [2004-05]
  • President, All India Management Association, New Delhi [1991-92]
  • President, The Institute of Company Secretaries of India, New Delhi [1977-79]
  • President, The Gujarat Investors’ & Shareholders’ Association [1988-97 and from October 1999 onwards]
  • Member, Primary Market Advisory Committee, SEBI, Bombay [1992-2003]
  • Member, Western Regional Committee, IDBI, Bombay [1997-99]
  • Member of Direct Taxes Advisory Committee, Ministry of Finance, New Delhi [1992-93]
His Interest
  • Has written a number of Articles on Law, General Management and Economic Subjects Contributes a regular column titled “Law and Society” in Gujarat Samachar, No. 1 language daily in Gujarat.
  • Travelled throughout world, lead Indian delegations to International Conferences in Hong Kong and London.
  • Mr. C. R. Shah is on the Board of many reputed Companies of India like Adani Power Ltd., Apollo Hospital International Ltd., Cadila Pharmaceuticals Ltd., Doshion Ltd., GSEC Ltd., Gujarat NRE Coke Ltd., Gulmahor Green-Golf & Country Club Ltd., H.K. Finechem Ltd.,India Renal Foundation, Meghmani Organics Ltd., Nirma Ltd., Saline Area Vitalization Enterprise Ltd., Tinplate Company of India Ltd., etc.
  • A biography book published of his life and achievements.


Name
Mr. Jayendra B. Patel
Designation
Managing Director, Vice Chairman
Qualification
B. Sc.
Experience

Mr. Patel is the founder of the company and he has more than 25 years of Senior Managerial and board level experience in the finance sector. Mr. Patel was in U.S.A. for a decade where he completed his education. After completing his education he joined business firm in USA namely Kapps Pharmaceuticals Inc. as Company Executive. During his stay in USA he successfully turned around two sick units into profitable position. Later he returned to India to concentrate and expand in the field of finance, he devoted fulltime attention to Arman in 1992. Mr. Patel is a founder member of the Gujarat Finance companies Association and presently secretary of the Association.

His Affiliations
  • Mr. Jayendra Patel was Member of the Finance and Banking Committee of Gujarat Chamber of Commerce & Industry (GCCI), Ahmedabad.
  • He is the secretary of Gujarat Finance Companies Association.
  • Managing trustee of B. M. Patel Foundation


Name
Mr. Amit R. Manakiwala
Designation
Whole-time Director
Qualification
B.Com
Experience

More than 25 years of Senior Managerial and board level experience in the finance sector. Mr. Manakiwala started his career in the construction sector where he was involved in hundreds of projects, including being directly involved in the project administration of several of the first skyscraper construction in Ahmedabad. Later he shifted focus in the textile industry as a senior manager handling accounts and administration of 3 factories. He joined Arman as a whole-time director and devoted his full-time attention to the company since 1992.


Name
Mr. Kaushikbhai D. Shah
Designation
Director (Independent)
Qualification
B. COM., LL.B., F.C.A
Experience

Mr. Shah is a fellow member of The Institute of Chartered Accountants of India and has over 30 years of experience providing consulting and professional services to global companies in the field of business consulting and audit &assurance. He has extensive Finance and Accounting experience and an established track record in the field of audit. His experience as a business consultant extends from developing complex financial models to detailed business plans for start-ups and expansion project. In addition, his background includes considerable expertise in advising foreign companies on entry / exit strategies. He presently heads the audit and assurance practice of a renowned professional services firm. He is on the Board of Directors of many public listed companies as an independent director offering invaluable guidance on the company’s policies of good corporate governance.

His Affiliations
  • More than 30 years as Practicing Chartered Accountant. Expert in the Field of Accounts, Taxation, Corporate Laws and Audit
  • Chairman of Ahmedabad branch I.C.A.I. for 86-87 & 87-88 and elected member of W.I.R.C. for 88 to 91
  • Faculty in H.L. College of Commerce
  • Vice Chairman of the Western India Regional Council of the I.C.A.I. for the year 1989-90
  • President – All Gujarat Federation of Tax Consultants for year 99-2000
  • Member of the Executive Committee of Gujarat Chamber of Commerce & Industries for the year 99-2000.
  • Chairman of Taxation Committee of Gujarat Chamber of Commerce and Industries for the year 99-2000 to 2004-05
  • Treasurer Cum Joint Secretary of Gujarat Chamber of Commerce and Industries for year 2005-06
  • Trustee of the Sadanand Trust, Ahmedabad and India Foundation & India Service Centre, U.S.A. The Sadanand Trust is actively engaged in social activities all over India and undertakes various activities of flood, famine, draught relief etc.
  • Written Book – “Controversies in Direct Tax Laws” – Published by Taxman of Delhi


Name
Mr. Aalok J. Patel
Designation
Executive Director
Qualification
B.S. Accounting & Finance; M.S. Accountancy, Certified Public Accountant (USA)
Experience

Mr. Aalok Patel brings a vast array of innovative knowledge to the Company. In India, he completed his schooling in Lawrence School, Sanawar and continued his higher education in the U.S. at Drake University. At Drake, Mr. Patel graduated with High Honors with a Bachelors and a Master’s Degree in Accountancy & Finance. He is a licensed Certified Public Accountant (CPA) in the U.S. Mr. Patel worked as an independent auditor for KPMG for almost 4 years, where many of his clients were included in the Fortune 100 list. He also brings experience from John Deere Credit, the equipment financing arm of John Deere & Co.

Furthermore, Mr. Patel excels to equity analysis and valuation as well; his research has been quoted in reputable business journals. He currently works for Arman full-time as an Executive Director since 2010.



Name
Mr. Ramakant Nagpal
Designation
Director (Independent)
Qualification
F.C.A. (1972), CAIIB (1980), Bachelors of Commerce - Punjab University (1968)
Experience

Mr. R. K.Nagpal is a performance driven professional having over 3 decades of experience in Banking & NBFC sector. He has worked as Vice President of Centurion Bank Ltd. for 7 years and on various senior positions with Central Bank of India for 21 years. Last Position held in Central Bank as AGM-Mumbai Main Branch. He is also founder MD/Chief Executive of Central Bank Home Finance Ltd, A Subsidiary of Central Bank based at Bhopal, Jointly promoted with NHB, HUDCO& UTI.

In his long and vast career in Banking, Mr. Nagpal acted among other positions as Senior Internal auditor of Central Bank of India and played a crucial role in unearthing scams and frauds. He has also carried out large number of special audit assignments involving inspection of large borrower accounts for reporting of diversion of funds and unearthed Maritime Import/Export LC frauds.

Mr. Nagpal has also carried out Statutory Audit of Urban Cooperative Bank, Ahmedabad, and Audit of various Toll Plaza units of National Highway Authority of India, Concurrent Audit of State Bank of Saurashtra, Information System Audit (ISA) of 40 branches of District Cooperative Bank in Gujarat.

He has also 5 years + experience of Heading Finance Department of Leading Central Government Pharma Company (August 2007 to May 2013) post his banking tenure & is handling BIFR Matters on behalf of Creditors against defaulting companies.

He iscurrently a Partner with Sharma Kathuria& Co Chartered Accountants.


Name
Mr. Aakash J. Patel
Designation
Director
Qualification
B.A. Computer Science, Business Management; Masters of Business Administration.
Experience

Aakash Patel has a B. A. degree in Computer Science and in Business Management from Gettysburg College in the USA, and an MBA from Bentley College in Boston-USA. He has over 8 years of computer and business experiences, which includes over 3 years of experience as a consultant with Deloitte, 2 years with Intellitools as a software developer, and amongst others companies such as Hewlett Packard, EMC Corporation, SoftscapeInc, Sumtotals Systems. Currently, he works as a Manager- PMO (USA) for Bullhorn Inc.


Name
Smt. Ritaben J. Patel
Designation
Director
Qualification
B. A. in Economics
Experience

Mrs. Ritaben J. Patel, is a Graduate in Economics. She also hold Banking qualifications from First National Bank of Chicago, USA. She has worked with various US banks like First National Bank of Chicago, Golf Mill Bank, Morton Grove Bank in various capacities for more than a decade.