Abhinav Goyal Ajay Shah

Areas of expertise: Corporate Ajay Shah studied at IIT, governance, emerging mar- Bombay and USC, Los Ange- kets, corporate finance, payout les. He has held positions at policy, IPOs, and privatiza- the Centre for Monitoring In- tion. Abhinav Goyal is Senior dian Economy, Lecturer of Corporate Finance Institute for Development at the Management School, Research and the Ministry of University of Liverpool, UK. Abhinav Finance. He is now Professor at NIPFP received his Ph.D. in Banking and Finance in New Delhi. He does academic and from University College Dublin, Ireland and policy-oriented research on India, at the his postgraduate degree in Financial Risk intersection of economics, law and public Management from Simon Fraser University, administration. His areas of focus are Canada. macroeconomics, finance, health, technol- Abhinav has received Best Paper Award by ogy policy and the justice system. His Eastern Finance Association for his paper work can be accessed on his home page published in Financial Review, 2015. He (http://www.mayin.org/ajayshah) and on has presented his research in more than 30 the blog http://ajayshahblog.blogspot.com academic seminars and conferences world- wide, and published in top-tier international Anjali Sharma finance journals Journal of Econometrics, Accounting Horizons, Financial Review, Anjali Sharma is a graduate Journal of International Money and Fi- in Economics and an MBA nance, and Quantitative Finance. Since in Finance. She has a work Sept. 2017, he has been an Area Editor of experience of 12 years in the Frontier Markets for (Journal) research in area of corporate finance. She International Business and Finance. has held finance positions in TATA Group companies Adam Feibelman in the space of Telecommunications and Financial Services. She has been a research Professor Feibelman is the consultant at the Finance Research Group Sumter Davis Marks Professor at IGIDR since 2013, and leads the research of Law and Associate Dean for secretariat to the Standing Council on Faculty Research at Tulane International Competitiveness of the Indian Law School. He is currently Financial System. She was part of the in India as a Fulbright-Nehru research secretariat for the Bankruptcy scholar, based at the National Legislative Reforms Committee (BLRC). Law School of India University, . He has previously been a faculty member at University of North Carolina and University of Cincinnati, and was a Bigelow Fellow at the University of Chicago Law School. His law degree is from Yale Law School, and he clerked for Gilbert Merritt of the Sixth Circuit U.S. Court of Appeals. His research interests include bankruptcy law, banking law and regulation, sovereign debt, and international monetary law.

1 Bahram Vakil Justice (Retd.) B. N. Srikrishna

One of the founding partners Justice B N Srikrishna was of AZB & Partners, Bahram the Chief Justice of the High N. Vakil is amongst Indias Court of Kerala and a Judge foremost infrastructure and of the Supreme Court of India. project finance attorneys. He headed the enquiry into Bahram is one of the few the riots that shook infrastructure lawyers in in December, 1992/January, 1993 and the the country who has been report submitted in February 1998. He has involved in five of the eight fast track been appointed Chairman various impor- power projects and has been acknowledged tant Commissions and Committees like, the as a leading project finance lawyer by Sixth Central , the Citizens most international publications for over Committee for monitoring Security Issues in a decade. The Worlds Leading Lawyers Mumbai, the Committee for Consultations for Business mentions that Bahram Vakil on the situation in Andhra Pradesh to is a gregarious and hard headed lawyer consider the demand for bifurcation of the according to clients who value his smart, State of Andhra Pradesh, the Financial reliable and practical advice. His finesse in Sector Legislative Reforms Commission, negotiations is especially singled out. He the High Level Committee to Review Insti- adds value in negotiations, ensuring both tutionalization of Arbitration Mechanism parties see the others point of view states in India, the Committee of Experts of Chambers Global. Bahram did his LLM Data Protection Framework etc. He has from Columbia University, New York, USA recently been appointed as Chairperson and was then admitted as a member of the of the Advisory Committee on Individual New York State Bar by examination in 1985. Insolvency & Bankruptcy. He was invited by the United Nations High Commissioner for Refugees to attend seminars at Delhi and in Geneva and Berne. He has been invited by the Universities of Berkeley, U.S.A., Bar Ilan, Israel and Oxford, U.K. to deliver lectures on Socio-legal subjects.

2 Bhargavi Zaveri Biwesh Neupane

Bhargavi Zaveri is a researcher Biwesh is a fully funded PhD at the Finance Research candidate at the University of Group, Indira Gandhi Insti- Strathclyde Business School. tute of Development Research Prior to joining University (IGIDR). At IGIDR, she is of Strathclyde, he studied part of a team of lawyers and MBA in Finance in Nepal economists who work on the and worked as an Associate intersection of law, economics in a portfolio management company for and policy, with a focus on Indian financial more than two years. His research interests markets. Previously, she has held research include international investments, owner- positions at the National Institute of Public ship structure, corporate governance and Finance and Policy, New Delhi and the initial public offerings (IPOs). He is also Harvard Law School. a co-investigator on a research related to Some of her work can be accessed https: FPIs and insider trading that is funded //ajayshahblog.blogspot.in/2015/12/author by NSE-IGIDR Corporate Governance -bhargavi-zaveri.html and http://ifrogs.org/ Research Grant 2017 ($2000). His research commentary.html. A lawyer by training, has been published in Pacific-Basin Finance Bhargavi has previously worked at a Journal, Managerial Finance and other Mumbai-based law firm for six years, where international journals. she worked on financial regulation. Brian Fitzpatrick

Professor of Law, Brian Fitzpatrick’s research at Vanderbilt focuses on class Bindu Ananth action litigation, federal courts, judicial selection and Bindu is the Chair of IFMR constitutional law. Professor Trust and IFMR Holdings. Fitzpatrick joined Vanderbilt’s law faculty She is a Director of all investee in 2007 after serving as the John M. Olin companies of IFMR Holdings. Fellow at New York University School of Prior to this, Bindu worked Law. He graduated first in his class from in ICICI Banks microfinance Harvard Law School and went on to clerk team between 2001 and 2005 for Judge Diarmuid O’Scannlain on the U.S. and was head of the new Court of Appeals for the Ninth Circuit and product development team within their Justice Antonin Scalia on the U.S. Supreme Rural Banking Group in 2007. She cur- Court. After his clerkships, Professor Fitz- rently serves as a Nominee Director for patrick practiced commercial and appellate National Stock Exchange on the Board of litigation for several years at Sidley Austin Computer Age Management Services. She in Washington, D.C., and served as Special is a member of the Advisory Boards of Counsel for Supreme Court Nominations Columbia Universitys India Initiative and to U.S. Senator John Cornyn. Research Equal Community Foundation. In 2017, Interests: Class actions, civil procedure, Bindu was featured by Forbes as one of federal courts, judicial selection, the U.S. Indias leading women leaders. Supreme Court, constitutional law.

3 Harsh Vardhan Joshua Felman

Dr. Harsh is a Senior Advisor Joshua Felman is current to Bain & Company. He working in the Office of the has worked with consulting Chief Economic Adviser in the firms for the past 20 years Ministry of Finance. Before advising clients in the banking that, he was for many years and financial services sector a senior official at the IMF, in India, North America, where he specialized in Asia Europe, South East Asia, and Greater and especially India. His familiarity with China, on issues of strategy, organisation India started in the 1980s, when he first design, risk management, operations, policy began analyzing the economy, as it started environment and regulation etc. He has to open up to the outside world. During also supported companies on key corporate the boom of the mid-2000s, he moved to finance issues such as mergers and acquisi- Delhi to take charge of the IMFs India tions, valuations, joint venture structuring office. Following the Global Financial and negotiations, due diligence reviews for Crisis, he was appointed Assistant Director institutional (PE/VC) as well as strategic in the IMFs Research Department.Mr. investors. He has also actively participated Felman did his graduate work at Oxford in policy making and discussions on regu- University in England. His most recent latory issues related to financial services in (co-authored) publication is Frontiers India. Dr. Harsh Vardhan has a Bachelors of Monetary Policymaking: Adding the degree in Mechanical Engineering from Exchange Rate as a Tool to Combat De- VNIT Nagpur followed by an MBA from flationary Risks in the Czech Republic IIM Kolkata, and an MS in Quantitative https://www.imf.org/external/pubs/ft/wp Finance and PhD in Business Economics /2015/wp1574.pdf from Smith School of Business of the University of Maryland at College Park, USA. K P Krishnan

Born on 29/12/1959, Dr. Krishnan was educated in Economics at St. Stephens College and Law at the Cam- pus Law Centre University of Delhi & obtained his Ph.Din Economics from IIMBangalore. He belongs to the 1983 batch of the IAS. Before joining as Secretary Ministry of Skill Development and Entrepreneurship, he has served in various positions in GOK, GOI and the Kamran Quddus World Bank primarily in the areas of Economic Affairs and Macro Policy and I have completed my grad- Rural & Urban Development. He has uation from IIT Kharagpur authored a number of reports and published with a degree in Economics. I many academic papers.In the year 2012 have worked as an investment Dr.Krishnan held the BoK Visiting Profes- banking analyst at Verity sorship in Regulation in the University of Knowledge Solutions. Cur- Pennsylvania Law School. On 28/12/2017, rently, I am pursuing doctoral studies at Dr.Krishnan was conferred with the Dis- IIM Calcutta in the area of Finance tinguished Alumni Award of IIM Bangalore.

4 Kumar Venkataraman Monika Halan

Kumar Venkataraman is the Monika Halan is Consulting James M. Collins Chair and Editor Money, a part of Professor of Finance in the the leadership team at Mint Cox School of Business at and a Consultant with the Southern Methodist Uni- National Institute of Public versity. He has a Ph.D. in Finance and Policy. A Certi- Finance from Arizona State University. fied Financial Planner, she has a Masters He was the Chairman of the Finance in Economics from the Delhi School of Department between 2012 and 2015. Re- Economics and a second Masters in Jour- search: Venkataraman specializes in the nalism Studies from College of Cardiff, area of market microstructure and writes University of Wales, UK. She has served about financial market design; evaluation as a member on the Ministry of Finance of trading strategies; and functioning of Committee on Incentives (Bose Committee) equity, fixed-income and energy markets. and is a member on the Sebi Mutual Fund He has published his research in major in- Committee. She was a member of the Task ternational finance and accounting journals. Force set up by the His work has been featured in industry to put in place the Financial Redressal publications, such as The CFA Digest, Agency. She was an expert invitee to a in text books, and in the business press, Ministry of Commerce Committee on the including Wall Street Journal, Barrons, Service Price Index. She is a director on the Financial Times, Economist and Bloomberg board of FPSB and FPSF India. She is the News. He has worked on consulting projects author of a published academic paper that sponsored by Financial Industry Regulatory estimates the loss to investors on mis-sold Authority (FINRA) and the Commodity insurance policies and has a working paper Futures Trading Commission (CFTC), that mystery shops Indian banks to prove and served as expert witness in litigation mis-selling. She is an author of a book: involving price manipulation. Seven Steps to Financial Freedom published by Macmillan in 2005. She is based in New Delhi and was chosen as a Yale World Fellow in 2011.

Margaret Blair

Professor Margaret Blair is the Milton R. Underwood Mohana Rao Balaga Chair in Free Enterprise at Vanderbilt University Law I, Mohana Rao Balaga, am School. She is an economist a 4th year PhD student in who focuses on corporate law Economics at Department of and finance. Her current research focuses on Humanities & Social Sciences, team production and the role of corporate Indian Institute of Technology boards of directors, the legal concept of Bombay, Mumbai. Prior ”personhood,” and the historical treatment to joining PhD, I worked as a Health of corporations by the Supreme Court. She Economist for 14 months at Aarogyasri joined Vanderbilt’s law faculty in 2004 as Health Care Trust, Government of Andhra part of the team supporting the Law and Pradesh. I obtained a 5 year Integrated Business Program. She had previously Masters Degree in Economics with distinc- taught corporate law and corporate finance tion from University of Hyderabad in 2013. at Georgetown University Law Center, My current research interest lies in the area and was a Senior Fellow at the Brookings of International Finance. Institution.

5 Mandar Kagade Madhu Kalimipalli

I am Mandar Kagade, a lawyer I am an Equitable Life of and Public Policy Consultant Canada Fellow and Professor in the financial sector space. in Finance at the Lazaridis I am presently with Finance School of Business and Research Group at IGIDR Economics, Wilfrid Laurier focusing on payments law University, Waterloo, Canada, and policy. Before IGIDR, I spent more and a Director of the Ph.D. Programs in than three years as a policy analyst with Management. I am an affiliated member of the Indian School of Business focusing on the WatRISQ, University of Waterloo, and financial regulation and tech policy. I have MS2Discovery Institute at Laurier. Prior been published in EPW, Banking Law to joining Laurier in 2000, I was a visiting Journal, HT Mint and Bloomberg Quint Assistant professor at the Faculty of Man- among others on the aforementioned policy agement in McGill University. My research areas. has appeared in premier finance journals such as Journal of Financial Economics, Journal of Financial I ntermediation and Journal of Banking and Finance among others.

Morgan Ricks

Morgan Ricks studies financial regulation. From 2009-10, he was a senior policy advisor and financial restructuring Manpreet Singh expert at the U.S. Treasury Department, where he focused Professor Manpreet Singh is primarily on financial stability initiatives presently Assistant Professor and capital markets policy. Before join- in the Area of Finance at ing the Treasury Department, he was a Scheller College of Business, risk-arbitrage trader at Citadel Investment Georgia Tech, USA. He com- Group, a Chicago-based hedge fund. He pleted Ph.D. in Finance at previously served as a vice president in HKUST, Hong Kong in 2016. He has re- the investment banking division of Merrill search papers published in top-tier finance Lynch & Co., where he specialized in journals like Review of Financial Studies strategic and capital-raising transactions and Journal of Financial Economics. He for financial services companies. He began has presented research papers at presti- his career as a mergers and acquisitions gious finance and economics conference attorney at Wachtell Lipton Rosen & Katz. like NBER Summer Institute, American Research Interests: Financial institutions, Finance Association Meetings, European Fi- financial stability, capital markets regula- nance Association Meetings and many more. tion and corporate finance

6 Mrugank Paranjpe Pab Jotikasthira

Mrugank Paranjape is the Chotibhak (Pab) Jotikasthira Managing Director and Chief is an Associate Professor of Executive Officer (MD & Finance at the Edwin L. Cox CEO) of Multi Commodity School of Business at Southern Exchange of India (MCX), Methodist University. Prior to and a Director on the Board. joining Cox, he was an Assis- MCX is Indias leading Commodity Futures tant Professor at the University of North Exchange and the only listed bourse in the Carolina at Chapel Hill. Jotikasthiras country today with products that are in- research interests include financial inter- ternationally acclaimed and well recognized mediation, international finance, and fixed across bullion, base metals, energy and income, with a particular focus on trading agricultural commodities. Prior to joining behaviors of institutional investors and MCX, he was the India Head/CEO of DB their impact on asset prices. He has written Centrea unique front office desk extension of extensively on the effects of institutional Deutsche Bank across all business divisions frictions, including regulatory capital and and business aligned control functions. accounting rules, on financial intermediaries During the last decade he has held several investment and trading incentives, which leadership positions and assignments with in turn shape the overall risk and intercon- Deutsche Bank in India and abroad. In nectedness of asset markets. his career, he has also held senior positions with ICICI Prudential AMC, Reliance Poonam Mehra Logistics, IndiaInfoline.com, W.I. Carr Se- curities Private Ltd, ING Baring Securities Poonam Mehra is currently (India) Pvt Ltd, IIT Invest Trust Ltd, and working as a faculty in Na- Citibank. Mr. Paranjape is an alumnus of tional Institute of Industrial IIT Mumbai (Electrical Engineering), and Engineering (NITIE) in the holds a PGDM (Specialization in Informa- Economics and Strategy tion Systems) from IIM Ahmedabad. Area. She did her PhD from Indira Gandhi Institute of M S Sahoo Development Research (IGIDR) and was a European Union Law and Economics Dr. M. S. Sahoo, an acclaimed PhD scholar with University of Hamburg. thought leader in the area She has worked as a faculty with National of securities markets and a Institute of Securities Markets (NISM). distinguished public servant, Her research interests are Competition and currently serves as Chairper- Corporate Finance and has been publishing son of the Insolvency and in International journals in this area. She Bankruptcy Board of India. He has served has been associated with research and con- as a Member of the Competition Commis- sultancy projects commissioned by SEBI, sion of India, Secretary of the Institute of Ministry of Finance and NSE. Company Secretaries of India, Whole Time Member of the Securities and Exchange Board of India, Economic Adviser with the National Stock Exchange of India and held senior positions in Government of India as a Member of Indian Economic Service. He also had a brief, but eventful legal practice.

7 Prasenjit Chakrabarti Pradeep Yadav

Prasenjit Chakrabarti is a Professor Pradeep Yadav is Ph.D. student at IIM Indore. Johnston Chair of Finance He earned B.Sc. in Physics at University of Oklahoma, from Jadavpur University, and Chairman of European Kolkata and B.Tech in In- Finance Association. His strumentation and Electronics earlier academic appointments Engineering from Jadavpur University, have included UCLA, NYU, Kolkata. He had approximately seven years Lancaster, and Strathclyde. He serves/has of professional experience in consulting served as: Director on Boards of several and technology domain, with Pricewater- companies; Member/Chair of Advisory houseCoopers (PwC) for more than six Boards/Committees of several academic years and a couple of months with IBM institutions, journals, and international before joining the Ph.D. program at IIM In- conferences; ”expert” in several major legal dore. His research interests include market cases; and consultant for several financial microstructure and derivatives. He has pub- institutions. His papers have won ”Best lished papers in national and international Paper Awards” from NYSE, CBOT, IN- journals in the areas of financial markets, QUIRE, Fisher Black Memorial Foundation, derivatives and econophysics. His paper and International Association of Financial was conferred best paper award in Consor- Engineers. Before academia, he was in tium of Students in Management Research senior-level public sector management - (COSMAR) in 2015 held at IISc. Bangalore. the Indian Administrative Service - for ten years.

Rajeswari Sengupta Renuka Sane Rajeswari Sengupta is an Assistant Professor of Eco- Renuka Sane is an Associate nomics at the Indira Gandhi Professor at the National In- Institute of Development stitute of Public Finance and Research (IGIDR). She has Policy (NIPFP). Her research held research positions at the interests are in household Institute for Financial Man- finance, especially on house- agement and Research (IFMR) in Chennai, hold choice in financial instruments such the International Monetary Fund (IMF) and as credit, pensions, insurance and equity the World Bank in Washington D.C. She markets, as well as consumer protection in was a member of the research secretariat for finance. She is also interested in research the Bankruptcy Law Reforms Committee and policy on the criminal justice system (BLRC) that recommended the Insolvency in India. She was a peer reviewer for the and Bankruptcy Code, 2016 for India. Her Financial Sector Legislative Reforms Com- research focuses on open economy macroe- mission (FSLRC) on consumer protection. conomics, monetary policy, firm financing, She was also on the research team for the bankruptcy, banking crisis, and national Bankruptcy Legislative Reforms Committee accounts measurement issues. She has (BLRC) on the insolvency of individuals published in reputed journals such as Eco- (2015) and the research team for the DEA nomic Policy, The Journal of International Committee on Mis-selling (2015). She is Money and Finance, The World Econ- also a member of the Pension Advisory omy, Emerging Markets Review, Pacific Committee of the Pension Fund Regulatory Economic Review, and Open Economies Development Authority (PFRDA). She has Review. She studied at the University of a PhD in Economics from the University California, Santa Cruz (UCSC), the Delhi of New South Wales and holds an M.A. in School of Economics and the Presidency Economics from Mumbai University. College, Calcutta. Her work can be accessed http://www.igidr.ac.in/?staff=sengupta- rajeswari 8 Rasha Ashraf Rina Ray

Rashas primary research areas After escaping a taxpayer include corporate governance, funded sanctuary (an oxy- market for corporate control, moron?) designed for der institutional monitoring, ex- (Indische) bermensch, Rina ecutive compensation, and Ray spent six years in the oil behavioral finance. Rasha and gas industry, including obtained her Ph.D. from Georgia Institute two as a profit center manager of Technology in 2007. Rasha is a member at a large international corporation. She of the American Finance Association. went back to a small private university in Dallas with finance and (oil) futures in mind, but continued on to a quaint campus (with a phenomenal music school) in the U.S. Midwest. Currently at a Rocky Mountain area urban university where S. Lakshmi Naaraayanan debates and disputes about fracking are contentious, Rina misses her early academic Lakshmi is a 3rd year PhD days in a land of unmatched atmospheric student in finance at Hong and geological beauty, where arguments Kong University of Science were more (less) about skiing (oil). and Technology. His primary research interest lies in un- derstanding issues related to Robert Hockett corporate governance. His other research includes studying the role of information Robert Hockett joined the dissemination on financial markets and Cornell Law Faculty in 2004. households. His principal teaching, re- search, and writing interests lie in the fields of organiza- tional, financial, and monetary law and economics in both their positive and normative, as well as their Sabat Jorge national and transnational, dimensions. His guiding concern in these fields is with the Jorge Sabat is in the DBA legal and institutional prerequisites to a program at the Olin Business just, prosperous, and sustainable economic School - Washington Univer- order. A Fellow of the Century Foundation sity in St. Louis. His research and regular commissioned author for the focuses on household finance, New America Foundation, Hockett also does macro-finance and structural regular consulting work for the Federal Re- empirical economics. He has serve Bank of New York, the International been a consultant for The World Bank, Monetary Fund, Americans for Financial and worked as Head of Fixed Income and Reform, the ’Occupy’ Cooperative, and Asset Allocation in Principal Financial a number of federal and state legislators Group. He earned a bachelors degree in and local governments.Prior to doing Industrial Engineering from the Adolfo his doctoral work and entering academe, Ibaez University (Chile) in 2010, a M.S. he worked for the International Mone- in Financial Engineering from the same tary Fund and clerked for the Honorable university in 2011, and is expected to earn Deanell Reece Tacha, Chief Judge of the his DBA in 2019. U.S. Court of Appeals for the Tenth Circuit.

9 Justice Sanjay K Kaul Sean Foley

His Lordship was born on De- Sean Foley’s research interest cember 26, 1958. His Lordship lies in the areas of stock mar- studied in Modern School, ket integrity and regulation. New Delhi till 1976 and Grad- Sean’s work on integrity has uated in Economics (Hons.) focused on the impact of from St. Stephens College, insider trading and market in 1979. His manipulation on market qual- Lordship obtained his LL.B. ity. His work on regulation has Degree from The Campus Law Centre, focused on the impact of the introduction Delhi University in 1982 and enrolled as an and regulation of dark pools and the impact Advocate with Bar Council of Delhi on July of high frequency trading on market quality. 15, 1982. His Lordship practiced mainly in These research areas are both grounded in the Commercial, Civil, Writ, Original and the market microstructure literature. Sean Company jurisdictions of the High Court has a PhD in Finance from the University of Delhi and the Supreme Court of India. of Sydney, as well as an undergraduate The cases also involved appearances before degree in Economics with first class honors MRTP Commission, Company Law Board, in Finance. Debt Recovery Tribunal and Arbitrators apart from the other nature of litigation Shubho Roy including Constitutional, Banking, Finance and Insurance, Customs and Excise, MRTP, Shubho Roy is a legal con- Real Estate, Administrative, Co-operative, sultant with a special interest Commercial, Service, Telecommunication, in financial regulation, public Anti- Dumping Laws, etc. His Lordship re- policy, institutional design mained Advocate-on-Record of the Supreme and economic regulation in Court of India from 1987 to 1999 and was general. He has experience designated as a Senior Advocate in De- in law, finance and public cember, 1999. His Lordship was appointed policy of over 6 years in multiple roles. Senior Counsel for the Delhi High Court As a law clerk to a judge in the Supreme and for the Delhi University, was on the Court, Shubho worked in drafting, case Senior panel of Union of India and served briefing, legal research of a wide variety of as the Additional Senior Standing Counsel cases that came before the Court, which for the DDA. His Lordship was elevated included complex taxation issues, copyright as Additional Judge of the High Court of and intellectual property and criminal law. Delhi on May 03, 2001 and was appointed Shubho has a keen interest in financial as a permanent Judge on May 02, 2003. regulation, regulatory governance issues His Lordship was elevated as the Acting and the interface between finance, business, Chief Justice of Delhi High Court w.e.f. economics and law. 23.09.2012 to 25.09.2012. His Lordship was elevated as the Chief Justice of the Punjab and Haryana High Court w.e.f. 01.06.2013. His Lordship assumed charge as the Chief Justice of the Madras High Court on 26.07.2014. His Lordship was appointed as a Judge of the Supreme Court of India on 17.02.2017. His Lordship is deeply interested in theatre, music and golf.

10 Santosh Koirala Subrata Sarkar

Santosh is a final year PhD Subrata Sarkar is Professor at researcher and Corporate the Indira Gandhi Institute Finance tutor in the Univer- of Development Research sity of Strathclyde Business (IGIDR), Mumbai, India. School. His previous academic His field of specialization is credentials include MPhil Applied Econometrics and (2014) and MBA (2009) in his research interests are in the areas of Finance. He has professional experience of corporate governance, empirical industrial public-sector financial management (2012- organization and risk modeling. He has 2015) and commercial banking (2009-2012) been a visiting faculty at the University of in Nepal. He is also a co-investigator on Sydney, University of Southern California, a research related to corporate governance Indian School of Business and the Shiv and risk-taking that was funded by NSE- Nadar University. He is the co-author of IGIDR Corporate Governance Research the book Corporate Governance in India Grant 2016 ($2000). His research projects and is the co-editor of the journal Macroe- are under consideration for publication in conomics and Finance in Emerging Market high impact journals in Finance. Economies. He has a Ph.D in Economics from the University of Southern California.

Susan Thomas Sudha Narayan Susan Thomas is faculty at Sudha Narayanan is an Asso- the Indira Gandhi Institute ciate Professor at the Indira for Development Research, Gandhi Institute of Devel- Bombay, with research inter- opment Research (IGIDR), ests in financial econometrics Mumbai. She has Ph.D. from and market microstructure Cornell University and M.A. in India. Her engagement with markets and M.Phil. degrees from the Delhi School include designing the stock market index, of Economics, India. Sudha’s research inter- real-time risk management system for ests straddle agriculture, food and nutrition the clearing corporation, and the use of policy, and human development in India. call auctions. She has had various policy Her current research focuses on contract engagements with the Ministry of Finance, farming, technology adoption in agriculture, including most recently, being a member of public policies for food security and employ- the Standing Council of the competitive- ment guarantee and agriculture-nutrition ness of the Indian Financial Sector (2013 linkages. Prior to studying for a doctoral onwards), and the Bankruptcy Legislative degree, Sudha worked with the Institute of Reforms Committee (2014-2015). She led Economic Growth, Delhi,the International the research secretariat for the Bankruptcy Food Policy Research Institute (IFPRI), Committee, which submitted a draft Insol- Washington D.C. and the Right to Food vency and Bankruptcy Code to the Indian Campaign in India and Cornell University, Parliament in 2015, and which was passed among others. as law in 2016.

11 Sushant Mallick Vikramaditya Khanna

Sushanta Mallick is a Profes- Vikramaditya S. Khanna, the sor of International Finance William W. Cook Professor at the School of Business and of Law, is faculty director Management, Queen Mary of the Directors’ College for University of London, UK. Global Business and Law and Also, since January 2015, he codirector of the Joint Centre has been the Co-editor-in-Chief of Economic for Global Corporate and Modelling a leading 34-year old scholarly Financial Law & Policy, a collaboration journal published by Elsevier. He holds a between Michigan Law and India’s Jindal PhD in economics from the University of Global Law School. He earned his SJD at Warwick, UK. Before joining Queen Mary Harvard Law School, where he has been in October 2006, he held positions at the a visiting faculty member. He served as Department of Economics, Loughborough a senior research fellow at Columbia and University, UK [2003-2006]; Royal Institute Yale law schools, and as a visiting scholar of International Affairs (Chatham House), at Stanford Law School. He was a recipient London, UK [2001-2003]; JPMorgan Chase of the John M. Olin Faculty Fellowship in (previously Chase Manhattan Bank) based 20022003. He is the founding and current in Hong Kong [1999-2001], and Institute editor of both India Law Abstracts and for Social and Economic Change (with a White Collar Crime Abstracts on the Social year at Indian Statistical Institute), Ban- Science Research Network. He has testified galore, India [1991-1995] where he began before the U.S. Congress and his papers his research career followed by a Common- have been published in, or are forthcoming wealth Scholarship to study for a Ph.D. in in, the Harvard Law Review, the Journal economics [1995-1998] at the University of of Finance, the Michigan Law Review, Warwick, UK. In addition to publishing a the Supreme Court Economic Review, the book from his Ph.D. research (Ashgate Pub- Journal of Empirical Legal Studies, the lishing, 1999), he has contributed articles Journal of Law, Economics, and Organiza- to 13 edited volumes along with publishing tion, the Journal of Econometrics, and the widely in many international refereed Georgetown Law Journal. News publica- journals. He has over 80 peer-reviewed tions in the United States, India, Germany, journal articles published in the areas of Switzerland, and the United Kingdom have international economics & finance and quoted him. He has given talks at Harvard, development. His academic work has been Columbia, Stanford, and Yale universities; mainly focused on issues in macroeconomic the University of California, Berkeley; and policy, international finance and economic the Wharton School, as well as to the development.[See his published research National Bureau of Economic Research at http://webspace.qmul.ac.uk/skmallick/] and the American Law and Economics [Email: [email protected]] Association. He has presented in the United States, India, China, Turkey, Brazil, and Greece.

12 Tanika Chakraborty Wasim Ahmad

Tanika is an Assistant Pro- Wasim Ahmad is currently fessor at the Indian Institute working as an Assistant Pro- of Management, Calcutta, fessor at the Department of currently on leave from the Economic Sciences, Indian In- Indian Institute of Technol- stitute of Technology, Kanpur. ogy, Kanpur. Formerly, she He has Ph.D. in Financial worked at DIW, Berlin, after Economics from the Delhi completing her PhD in Economics from University and National Institute of Public Washington University, St Louis. Tanikas Finance and Policy (NIPFP), New Delhi, research focuses on Labor and Development India. His current area of research interests Economics. She is a Fellow at Institute for in clean energy finance, commodity deriva- the Study of Labor (IZA), Bonn, and the tives, and emerging markets finance. He is Global Labor Organization. Her research the recipient of Prof. M J Manohar Rao has featured in World Development, Journal Award Young Economists 2014 given by of Comparative Economics, Economics of The Indian Econometric Society (TIES). Education Review, Review of Economics of the Household, Demography and the IZA Yesha Yadav Journal of Labor and Development. Tanika has undertaken research projects funded Yesha Yadav is a Professor by ICSSR, IDRC, Canada, DFID, UK and of Law at Vanderbilt Law UNICEF. School, researching in financial and securities regulation, Venkatesh Panchapagesan microstructure and corporate bankruptcy. Before joining Dr. Venkatesh Panchapagesan Vanderbilt in 2011, she worked as legal is currently an Associate Pro- counsel with the World Bank, specializing fessor of Finance and Head of in financial regulation and insolvency and the Real Estate Research Ini- creditor-debtor rights. Before joining the tiative at the Indian Institute World Bank, she worked at Clifford Chance of Management, Bangalore. LLP, in the firm’s financial regulation and He has almost 20 years of experience in derivatives group. Here, she was assigned academia and in global financial services to advise the European Payments Council industry after finishing his Ph.D. in Finance on the establishment of the Single Euro from the University of Southern California. Payments Area (SEPA). Since joining Prior to joining IIM-B in September 2011, Vanderbilt, Professor Yadav has served he was with the worlds largest hedge fund, as Honorary Advisor to Indias Financial Bridgewater Associates, where he was the Services Law Reform Commission (FSLRC) global currency trading strategist and led and on the Atlantic Councils Task Force on efforts to revamp trading and research Divergence and the Transatlantic Financial analytical infrastructure. Venky was a Reform and G-20 Agenda. She earned an Finance Professor at the Olin School of M.A. in Law and Modern Languages with Business at Washington University in St. First Class honors at the University of Louis from 1998 to 2005 and has published Cambridge and an LL.M. at Harvard Law extensively in top peer-reviewed academic School. and practitioner journals of the world. He was also invited to be the NASDAQ stock markets economist for a year. He is certified in India as a Chartered Accountant and a Cost Accountant, and holds a PGDM from IIM (Calcutta).

13 Walter Mattli Ravindra Shevade

I am a Fellow of St Johns Has more than 25 years of College and Professor of In- experience in designing, de- ternational Political Economy veloping and managing IT in the Department of Politics applications. Has been work- and International Relations ing on Online Marketplaces at Oxford University. I joined since 1999 and has done Oxford University in 2004. pioneering work in developing From 1995 until 2004 I taught at Columbia e-Tender and e-Auction markets as well as University in New York where I was As- in the area of procurement. Has contributed sociate Professor of International Political to design and architecture of high perfor- Economy and a member of the Institute mance, high availability trading, settlement, of War and Peace Studies. I received my commodity registry and risk management undergraduate degree from the University of systems for multiple organizations. Has Geneva and my Ph.D. from the University been working with NCDEX e Markets of Chicago. I worked in international bank- Limited since 2008 and has been the key ing in New York.I have held fellowships at architect of the set of e - Market platforms the Wissenschaftskolleg in Berlin, Princeton developed by NeML. His vision has been University and the European University to provide scalable, low cost platforms to Institute in Florence. In 1995, I was NeML customers and participants that awarded the Helen Dwight Reid Award of would have high flexibility, low time to the American Political Science Association market and low overall cost. Prior to and in 2015 a British Academy/Leverhulme joining NeML, he has done pioneering Trust Senior Research Fellowship. work in e-Tendering systems where he has authored two international patents for maintaining confidentiality of bids. He has also worked on online marketplaces and ERP systems design and implementation including specialist applications such as Finite Capacity Scheduling and Project Management. He has also worked on broker and depository back office systems and document management systems while working with his previous employers. He has also been a consultant to UNESCO on IT systems. He currently looks after Technology and Market Operations and is involved in Business Strategy for NeML.

14 Rajiv Mehrishi Vimal Balasubramaniam

Comptroller & Auditor Gen- Vimal Balasubramaniam is an eral of India, Mr. Rajiv Assistant Professor of Finance Mehrishi. Rajiv Mehrishi at the Warwick Business born on August 8, 1955 in School, United Kingdom. . Shri Mehrishi is an His research interests span alumnus of St. Xaviers School household finance, asset pric- () and got a masters degree from ing, behavioral finance and international Delhis St. Stephens. He holds a degree finance. Prior to joining the University of in Management from United Kingdom. Warwick, he was a Ph.D. candidate at the He is a 1978-batch Indian Administrative University of Oxford and a consultant at Services (IAS) officer of Rajasthan cadre. the National Institute of Public Finance Known for his innovative approach and and Policy, New Delhi. For more details, out of box thinking, Shri Mehrishi has see www.vimalb.com. held several important positions in the State and Central Governments, working in several Departments and Ministries. In the State, he has worked in Finance, Home, Agriculture and Transport Departments. In the Centre, he has worked in the Ministries of Petroleum, Corporate Affairs, Home and Finance, apart from working in both the President and Cabinet Secretariat. His crit- ical assignments in the State have been: 1. Principal Secretary Finance and Planning 2. Chief Secretary The critical assignments in the Government of India have been: 1. Finance Secretary, Government of India 2. , Government of India He is currently the Comptroller and Auditor General of India. He has also authored a reference book ”India 2017”. His other interests are reading, golf, bridge, cooking and travelling.

15 IGIDR Finance Research Group

Aashay Dasani Ayush Kumar

Currently Aashay Dasani Ayush Kumar has studied am working as a Systems at Delhi College of Engi- Engineer at Finance Research neering and IIM Lucknow Group (FRG). I have done (specialization in Finance and my Master’s Msc(Computer Economics). He has worked Applications) from Symbiosis in investment banking roles at International University (SIU) , SICSR , Ernst & Young and Caparo Pune (2015). Previously i was working in Financial Solutions Limited. He has worked Vivaconnect Technologies Pvt ltd , Mumbai to raise funding for firms in different sectors, as a Server Engineer , then i worked as particularly infrastructure sector. He is a Systems Engineer at Trunkoz Group , currently working as Research Associate Mumbai. Currently I am handling as well at Finance Research Group, IGIDR. His as managing the whole I.T Infrastructure area of interest is finance and economics, of Finance Research Group . My work with focus on corporate valuation, risk additionally includes writing codes and management and derivatives. Scripts to Automate and Set Up the I.T Infrastructure. I have also been involved in Chirag Anand various projects at FRG. Apart from that , I have worked in the areas of DevOps , Cloud Chirag is a technology con- and Network Security (Vulnerability As- sultant with expertise in IT sessment and Penetration Testing [VAPT] ). solutions and software de- velopment. He runs his own Ami Dagli technology services startup. His interests lie in high performance com- Ami Dagli is associated as puting, distributed computing, and big data a Website Manager with the analytics engines. Over the past 8 years, he IGIDR Finance Research has worked on building technology solutions Group. She has completed for various research groups and firms in her graduation from Mumbai the financial sector. He holds a bachelors University, Diploma in Finan- degree in Computer Science. cial Management(DFM) from Welingkar Institute Of Management. Diya Uday

Arpita Pattanaik Diya Uday is a lawyer regis- tered with the Bar Council of Arpita is a Research associate Maharashtra and Goa, who at Finance Research Group, graduated from Symbiosis Law IGIDR. She has worked on School, Pune, in the year 2013. various projects and assisted She has been an associate at and collaborated in several Cyril Amarchand Mangaldas capacities in policy research and Hariani & Co. Advocates and Solicitors and academic papers involving in Mumbai and has also been associated use of quantitative techniques and method- with the likes of Trilegal, Mumbai, Dua ology. She has knowledge of securities Associates, Al-Shariff Advocates in Dubai, markets data (daily and intra-day), and U.A.E., She has worked in the fields of Indian firm-level data and has used the property law,renewable energy,finance and same for academic research projects. Dur- structured debt. She has recently been en- ing her stint, she has extensively used R gaged by Finance Research Group, IGIDR as a programming tool, for statistical and as consultant for legal policy research. econometric analysis of data.

16 Gausia Shaikh Mahendra Kumar Singh

Gausia Shaikh is a Consultant Mahendra Kumar Singh (Legal) with the Finance Re- is a Research Associate at search Group at IGIDR. She Finance Research Group, also teaches bankruptcy laws, IGIDR. He completed BS-MS as visiting faculty, to the LLM (Dual-Degree) in Economics Batch at the NMIMS Kirit P. from Department of Economic Mehta School of Law. She is a Sciences, IIT Kanpur. Prior registered Advocate with the Bar Council to joining FRG, he was working as a junior of Maharashtra and Goa and also holds a researcher at the Chair for Agricultural Certificate of Practice from the Bar Council Production and Resource Economics of of India. In addition to her BLS-LLB Technical University of Munich (TUM). degree from the University of Mumbai, she His current research interest includes agri- also holds an LLB (Honours) degree from cultural and energy economics. He is also the University of London. Prior to FRG, keenly interested to work in the area of she has worked at litigation and corporate public finance and policy evaluation. law firms in Mumbai. She presently assists the Finance Research Group in projects Kodeti Siva Shankar Swamy involving policy making and analysis of Indian as well as foreign laws, with special Kodeti Siva Shankar Swamy interest in insolvency and bankruptcy laws. is associated as a Linux Sys- tem Administrator with the Janak Priyani IGIDR, Finance Research Group. He is managing Janak Priyani holds an under- Linux Server issues, Tech- graduate degree in Economics nical Hardware issues and from Delhi University and a Server maintainance and Monitoring roles masters degree in Economics of Projects at FRG. He was joined from from Shiv Nadar Univer- OCT-2017. He was completed graduation sity. Currently he works at Godavari Institute of Engineering Tech- with the Finance Research nology, Rajahmundry, JNTU Kakinada Group, IGIDR as a Research Associate. University-2013. His research interest is in Game Theory, Development Economics and Behavioural Sejal Sondagar Economics. Sejal Sondagar has done her Jyoti Manke Masters in Commerce from Mumbai University. She is Jyoti Manke is associated working as a Data administra- as a Program Manager with tor with the Finance Research the IGIDR Finance Research Group, IGIDR since 2012. Group since 2010. She has Her work includes, handling the data, worked as Accounts assistant writing code for data extraction. Sejal is an at CMIE. She has completed integral part of projects such as the Dept.of her graduation from SNDT Economic Affairs (DEA).Her work area University, Mumbai. includes Commodity Derivatives.

17 Surbhi Bhatia Unnati Gandhi

Surbhi is a research associate Unnati Gandhi is currently with the Finance Research associated with Finance Re- Group (FRG), IGIDR. Prior search Group, IGIDR. She to working at FRG, she has has completed her Commerce worked with the Risk Manage- Graduation from K.P.B. Hin- ment Services, Ernst & Young duja College of Commerce and (EY) and has been associated Economics, Mumbai. She also holds a Mas- in various capacities on projects with the ters degree in Commerce from University Ministry of External Affairs, MIT Abdul of Mumbai and a Post Graduate Diploma Lateef Jameel Poverty Action Lab (J-PAL), in Business Administration from Symbiosis and the Macro-Finance Group at National Centre for Distance Learning, Pune. She Institute of Public Finance and Policy has extensive experience in strategizing (NIPFP), New Delhi. Her research interests sales, marketing and business development include working at the intersection of law plans. Her last association was with Euclid and economics, across policy issues in gover- Infotech Pvt. Ltd as International Business nance and accountability, public health and Development Manager. In her corporate public finance. She holds a Bachelors de- tenure of 10 years she has been serving gree in Economics from University of Delhi organizations like, Lloyds TSB, S Kumars and Masters degree in Public Policy from Online Ltd., and Shree Ram Urban Infras- St. Xaviers College (Autonomous), Mumbai tructure Ltd.

Varun Marwah

A graduate of ILS Law Col- lege, Pune, Varun Marwah is currently a Research Consul- tant (Legal) with the Finance Research Group, IGIDR. Prior to this, he has worked as a corporate lawyer with Verus and as a legal journalist with Bar & Bench. Apart from having a keen interest in the intersection of law and technology, Varun has been watching and reporting the rapidly evolving jurisprudence surrounding Indias new insolvency regime; an interest which continues to grow with his engagement at the FRG.

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