Oracle Financial Services Software Limited (OFSS) Governance

Board of Directors

Mr. Sridhar Srinivasan is a senior advisor with Oliver Wyman, a leading global management consulting firm. He joined Oliver Wyman in early 2013 as a partner and India head. He works with CEOs, boards of directors, and senior leaders of top financial services companies on topics such as management strategy, risk management, client coverage models, product and distribution strategies, cost optimization, governance, and regulatory compliance.

Mr. Srinivasan is also the non-executive Chairman of the Board of Directors of Indian Overseas Bank, and a non-executive member of the Boards of FINCA Azerbaijan, Nirlon Limited and Graphite India Limited.

Mr. Srinivasan has more than 30 years of experience in financial services. Prior to joining Oliver Wyman, he was managing director of Citigroup in London. He was with Citibank for 28 years and has worked in 6 countries across Asia, Africa, and Europe. Some of the leadership positions he held with Citibank include CEO for three countries, corporate bank head in India, and transaction services head for Africa.

Mr. Srinivasan is a Chartered Accountant and a graduate of Delhi University.

Makarand Padalkar Managing Director and Chief Executive Officer

Mr. Makarand Padalkar is CEO and managing director of Oracle Financial Services Software Limited, a majority-owned subsidiary of Oracle Corporation and an integral part of Oracle’s Financial Services Global Industry Unit. He was the Chief Financial Officer of the Company since 2007 till 2023 and the Whole-time Director of the Company since 2019.

Mr. Padalkar has over 40 years of experience managing all the aspects of IT & product business. He joined the company in 1994 and before becoming the CFO, his responsibilities included marketing (as head), key account management, corporate strategy and investor relations. As the head of marketing,
Mr. Padalkar successfully launched the products that are the core foundation of the Company today.

Prior to joining the Company, Mr. Padalkar worked for 12 years with a large IT services company in India, consulting various clients in BFSI segment in Europe and United States. Mr. Padalkar is a post graduate engineer from Indian Institute of Technology, Mumbai. He is a Member of the Board of Directors of Sarvatra Technologies Private Limited.

Harinderjit Singh Director

Mr. Harinderjit Singh (Sonny Singh) is Executive Vice President and General Manager of Oracle’s Financial Services Global Industry Unit. In this role, he is responsible for a global organization focused on Sales, Consulting, Engineering and Support of Oracle’s products focused on Banking, Insurance and Capital Markets.

During his 35-year Oracle career, Mr. Singh has been instrumental in leading the creation and execution of highly successful corporate, business unit, and new market strategies that produce strong topline impact across all of Oracle’s hardware, software, and services product lines.

Prior to his current role, Mr. Singh was the Senior Vice President of Oracle’s Industries business unit, which is responsible for Oracle’s go-to-market strategy. In this role, his organization was responsible for product marketing, competitive intelligence, field enablement, deal acceleration, and mergers-and-acquisition integration across Oracle’s entire product and services portfolio. In addition, his organization delivered all of Oracle’s strategic customer engagement capabilities. These include solutions and expertise for all industry vertical segments, the Oracle Insight program, which is Oracle’s branded value engineering competency, and Oracle Solution Centers. Additionally, his organization provided the business strategy, tools, and programs for Oracle’s key accounts and midsize market segments. Prior to leading the Oracle Industries Business Unit, Mr. Singh was group vice president for Oracle Consulting, where he led Oracle’s services business in North America Strategic Accounts.

Mr. Singh holds a master’s degree in industrial engineering from Stanford University and a bachelor’s degree in mechanical engineering from Punjab University, India. He is active in his local community and serves on the Board at the Children’s Discovery Museum in San Jose, California.

Mrugank Paranjape Director

Mr. Mrugank Paranjape has over 33 years of rich experience at CXO levels in the financial services industry in India and overseas specializing in banking, asset management, commodities exchange and technology. He was the MD & CEO of NCDEX e Markets Ltd and prior to that MD & CEO of Multi Commodity Exchange of India (MCX) – India’s first listed and leading Commodity Exchange. Earlier, Mr. Paranjape had successful stints in India & abroad with global financial institutions including Deutsche Bank, ICICI Prudential, W I Carr Securities, ING Barings & Citibank. He is an expert and consultant in the field of Capital & Commodities Markets.

Mr. Paranjape also serves on several boards. He is a Non-Executive Independent Director in the Central Board of the State Bank of India, Chairman of the Board of Trustees of Sewa International and Member of the Board of Governors of Mumbai University – PM USHA as well as the Mumbai School of Economics & Public Policy.

Mr. Paranjape is an alumnus of the Indian Institute of Technology, Bombay and the Indian Institute of Management, Ahmedabad.

Jane Murphy Director

Ms. Jane Murphy is a lawyer who was born and raised in Canada, where she qualified and worked as a lawyer before moving to Belgium more than 30 years ago, where she also qualified as a Belgian lawyer. Her legal practice focuses on data protection (GDPR), corporate law, and corporate governance.

Ms. Murphy is the founder and president of European Data Protection Office (EDPO), EDPO UK Ltd., EDPO Switzerland, European Digital Services Representative (EDSR), and EDSR Ireland Ltd. She is also a member on the Board of Directors of material unlisted subsidiaries of the Company. Ms. Murphy is a guest lecturer in corporate governance at the UCL University in Belgium and is a regular speaker at events related to the GDPR, corporate governance, and women’s entrepreneurship.

Ms. Murphy holds an LLM in international and European law (magna cum laude) from the Brussels University, a Belgian law degree (cum laude), a Canadian law degree (magna cum laude), and a Certification in European Data Protection. She also completed an international business course at Harvard University.

Kimberly Woolley Director

Ms. Kimberly Woolley is the Assistant General Counsel and Assistant Secretary for Oracle Corporation. She has been practicing corporate law since 1998 and originally joined Oracle in May 2009. She supports Oracle Corporation’s board of directors and committees of the board. Ms. Woolley is a member of Oracle’s disclosure committee and is responsible for Oracle’s compliance with U.S. securities laws, including the review and preparation of the company’s periodic reports (10-K, 10-Qs, 8-Ks), annual proxy statement and Section 16 filings. She also supports Oracle’s Treasury and Finance teams in capital markets transactions.

Prior to joining Oracle, Ms. Woolley was the Director, Associate General Counsel of Williams-Sonoma, Inc. where she served as the head of corporate and securities law, reporting to the general counsel. She previously worked as an Associate at law firms Gibson, Dunn & Crutcher (London and San Francisco), and Sullivan & Cromwell (New York and London). Ms. Woolley is a Member of the Board of Directors of several listed & unlisted Oracle group companies, GoAhead Software India Private Limited, Responsys Business Solutions India Private Limited, Tekelec Systems India Private Limited, Waban Software Private Limited, Logfire Technology Solutions Private Limited, Palerra Software Private Limited, Oracle Corporation Japan, Aconex (India) Private Limited, Oracle Solution Services (India) Private Limited and Cerner Healthcare Sales India Private Limited.

Ms. Woolley holds a juris doctorate degree with high honors from George Washington University Law School, and a Bachelor of Arts degree with honors (magna cum laude) in politics and government from Ripon College. She is a member of the New York and California state bars.

Gopala Ramanan Balasubramaniam Director

Mr. Gopala Ramanan Balasubramaniam is a finance professional with over 3 decades of experience in corporate finance, financial controllership, M&A, treasury, taxation, corporate secretarial & legal. Mr. Gopala has served corporate Boards in the capacity of non-independent director. He is with Oracle India Private Limited for more than 21 years and now in the capacity of Vice President and JAPAC Controller, and manages the financial controllership for JAPAC region apart from managing global audit engagements and Risk Management & Compliance for Global Controllers organization in Oracle.

Prior to joining Oracle, Mr. Gopala has held senior level positions in Standard Chartered Bank in India and abroad. Mr. Gopala started his career as an investment banker. He also worked in manufacturing and various service industries.

Mr. Gopala is a Fellow member of Institute of Chartered Accountants of India, Institute of Company Secretaries of India and an Associate member of Institute of Cost Accountants of India. He is also an alumni of Indian Institute of Management, Bengaluru.

Vincent Secondo Grelli Director

Mr. Vincent Secondo Grelli is Vice President of Tax, for Oracle Corporation. He is responsible for managing Oracle’s direct and indirect tax affairs in the Asia Pacific, Greater China, and India regions.

Mr. Grelli joined Oracle in December of 2008. Prior to Oracle, he was vice president of global taxes at Hyperion Solutions, reporting to the chief financial officer. He has held senior global tax management positions at Sun Microsystems and Amdahl Corporation. Mr. Grelli began his career with Arthur Andersen. Currently, he is also a Member of the Board of Directors of several Oracle group companies, OCAPAC Corporation Singapore Pte. Ltd, Oracle Corporation (Thailand) Company Limited, Oracle Corporation Japan, Oracle Software Technology GmbH, OCAPAC Distributor Partner UC, OCAPAC Hardware Partner UC, OCAPAC Research Partner UC, OCAPAC Holding Company UC, Oracle Research Company Unlimited Company, Oracle Technology Company Unlimited Company, Oracle Australia Holdings Pty Ltd, Oracle Consolidation Australia Pty Ltd and PT Oracle Indonesia.

Mr. Grelli holds a bachelor’s degree in accounting and is a certified public accountant licensed in California. He is a longstanding member of the American Institute of Certified Public Accountants.

Yong Meng Kau Director

Mr. Yong Meng Kau (Richard Kau) is deputy regional general counsel and Vice President Legal, APAC. Prior to joining Oracle in 2001, he was in private practice, specializing in corporate and commercial law.

In his current role, Mr. Kau manages the Legal team for Oracle’s ASEAN and South Asia & Growing Economies (SAGE) business and operations, and provides legal support to local and regional management across all lines of businesses. He also serves as a director of several Oracle group companies, namely, Conject Services Pte. Ltd., Diamond (KH) Singapore AssetCo Private Limited, MICROS-Fidelio Singapore Pte Ltd, NetSuite Software (Asia Pacific) Pte. Ltd., OCAPAC Corporation Singapore Pte. Ltd., Oracle Bangladesh Limited, Oracle Corporation Singapore Pte. Ltd., Oracle Global Services Singapore Pte. Ltd., Oracle Singapore Holdings Pte. Ltd. and Sun Microsystems Pte. Ltd.

Mr. Kau is a Fellow of the Singapore Institute of Arbitrators and a member of the Chartered Institute of Arbitrators.

Kavita Venugopal Director

Ms. Kavita Venugopal is an Independent Board Director and Business Leader. Ms. Venugopal serves on several Boards and is Chairperson / Member of various Board Committees. She has worked with India’s corporate leaders across sectors and supported them in building their businesses.

Ms. Venugopal has been a career banker with over 4 decades of experience in the areas of Banking & Finance, Risk Management, Economics, Business & Strategy, Customer Management, Leadership / Human Resource Management, Corporate Governance, Investment Banking/Fund Raising and Financing to SME & Mid Corporates.

Ms. Venugopal has extensive experience with Global and Indian Banks and has held leadership positions with various Multinational Banks and Private sectors Banks in India. She was Chief Executive Officer (CEO) of Abu Dhabi Commercial Bank (ADCB), India and before that, she led various teams at Standard Chartered Bank & ANZ Grindlays Bank, Kotak Mahindra Bank, etc.

Presently, Ms. Venugopal is Director on the Board of AU Small Finance Bank Limited, Munjal Showa Limited, A G Industries Pvt Ltd, Rockman Industries Limited, PNB MetLife India Insurance Company Limited, Pipeline Infrastructure Limited and EnCap Investment Manager Pvt. Ltd.

Ms. Venugopal holds a Master of Business Administration (MBA) from Faculty of Management Studies, University of Delhi & Bachelor of Arts (BA), Economic Honours from Lady Shri Ram College, University of Delhi.

Key Managerial Personnel

Avadhut Ketkar Chief Financial Officer

Mr. Avadhut(Vinay) Ketkar is the Chief Financial Officer of Oracle Financial Services Software Limited. Mr. Ketkar joined the Company in 1990 and grew with the organization donning many hats and performing various critical roles in the finance, secretarial and legal areas. Mr. Ketkar helped build the legal & finance organizations which today provide a very strong foundation to the Company. Mr. Ketkar played a major role at every corporate milestone of the Company – M&A, IPO/Listing, Investor Relations, corporate actions, new entities/offices, critical tax and legal matters, etc.

Mr. Ketkar is a Chartered Accountant and a law graduate from Mumbai University.

Onkarnath Banerjee Company Secretary and Compliance Officer

Mr. Onkarnath Banerjee is the Company Secretary and Compliance Officer of Oracle Financial Services Software Limited since 2015. He has over 32 years of experience in diverse industries that include Pharmaceuticals, Chemicals, FMCG, Information Technology and Software Services in the areas of Legal, Governance, Finance, and Corporate Affairs. Mr. Banerjee is an Associate Member of the Institute of Company Secretaries of India, Institute of Cost Accountants of India and is a Law graduate from the University of Kolkata.

Board Committees

Audit Committee
- Mr. Mrugank Paranjape – Chairperson
- Ms. Jane Murphy – Member
- Mr. Sridhar Srinivasan – Member
- Mr. Vincent Grelli – Member
Corporate Social Responsibility Committee
- Mr. Harinderjit Singh – Chairperson
- Ms. Kimberly Woolley – Member
- Mr. Makarand Padalkar – Member
- Mr. Sridhar Srinivasan – Member
Nomination and Remuneration Committee
- Ms. Jane Murphy – Chairperson
- Mr. Harinderjit Singh – Member
- Mr. Sridhar Srinivasan – Member

Stakeholders Relationship Committee
- Ms. Jane Murphy – Chairperson
- Mr. Makarand Padalkar – Member
- Ms. Kimberly Woolley – Member
Risk Management Committee
- Mr. Sridhar Srinivasan – Chairperson
- Mr. Makarand Padalkar – Member
- Mr. Mrugank Paranjape – Member
- Mr. Avadhut Ketkar – Member