Board Of Directors

Independent Director & Chairman of the Board of Directors
Retired IAS of 1979
Shri B. K. Bal belonged to the Indian Administrative Service (IAS) of 1979 batch. He has worked in various capacities in the infrastructure, financial, regulatory and development sectors in senior positions in two State Governments of Tripura and Odisha, and in the Government of India. In addition, he has worked at United Nations World Food Program (UNWFP) in India for more than nine years implementing various development programs and technology-based solutions in different States. Prior to joining IAS in 1979, he had worked in the Banking sector for over 4 years. He was involved with Central Government and State Government (Tripura and Odisha) PSUs as Director on the Board of Directors including as Chairman-cum-Managing Director (additional charge) in a Central PSU. In his last assignment, he worked as a founding Member of the Warehousing Development and Regulatory Authority (WDRA).
LL.B Fellow Member of the Institute of Chartered Accountants of India, New Delhi
Shri J Balasubramanian is a practicing Chartered Accountant and an erstwhile Director on the Boards of many Companies including IDBI Federal Life Insurance Co. Ltd. and NESL Asset Data Management Ltd. He was a Director and Audit Committee Chairman on the Board of Dena Bank, nominated by the Central Government of India. Currently he is the Chairman of the Trust Board of Canara Robeco Mutual Fund and a Director and Audit Committee Chairman of Kaycee Industries Ltd. ( A listed Company ).
Retired IAS Officer, Former Agriculture Commissioner
Shri Sudhir Kumar Goel had worked in various senior positions in the Govt. of Maharashtra, mostly linked to the field of Agriculture & Cooperation, including 7 years as Agriculture Commissioner; 6 years as Commissioner and Secretary – Cooperatives; Director-General - special project tackling suicide among farmers, Vidarbha; Principal Secretary and then Additional Chief Secretary of Agriculture. Shri Goel is advising on attracting investment in the field of integrated value chains after his retirement in June 2015. He has extensive experience working on various projects funded by the World Bank, Asian Development Bank and International Fund for Agriculture Development. He holds a Master’s in Development Studies, University of Bath, UK; PhD in Physics, Bhabha Atomic Research Centre. Formerly, Researcher in Nuclear Physics, Bhabha Atomic Research Centre. In 1982, he joined Indian Administrative Service (IAS) and has occupied various senior positions in the state of Maharashtra, as an expert in the field of agriculture and agricultural marketing and management.
Chief Operating Officer, Multi Commodity Exchange of India Ltd.
Shri Manoj Jain is a shareholder Director nominated by Multi Commodity Exchange of India Limited (MCX). He is the Chief Operating Officer (COO) of the exchange. He is overseeing HR, Admin, Research, ERM, Finance and Accounts, CSR and few regulatory departments of the Exchange. He has about 25 years of experience in securities markets covering regulatory affairs and policy making, capital market operations, business development, fund accounting operations and IT project management. He has been associated with MCX since November 2021; and in the past had been associated with firms like Axis Bank, IL&FS Securities, Perot Systems (now NTT Data), Wipro, ICRA and SEBI. He is MBA from FMS, University of Delhi. BTech from NIT Kurukshetra.
Smt. Nayana Ovalekar is a shareholder Director nominated by the holding company Central Depository Services (India) Limited [CDSL]. She is working as the Chief Regulatory Officer of the CDSL. In this role she is responsible for overseeing the regulatory vertical of CDSL including Audit & Inspection, Surveillance, Admission of Constituents, Regulatory Interactions and Legal & Secretarial. She has been involved in formulation of policies governing financial reforms in depository segment by being actively involved in ideation with the Regulator. She joined CDSL in the year 2003. Prior to joining CDSL, she worked with the custodian Stock Holding Corporation of India Ltd and was involved in setting up of its Depository Participant Operations. She has a Bachelor’s degree in Commerce and is a qualified Company Secretary.
Shri Ramkumar is a shareholder Director nominated by our holding company CDSL. He has been working with CDSL for 22 years in various roles and responsibilities across various functions viz. Operations, Training, Admission, Audit, Inspection and Compliance, Business Development and New Projects. There have been multiple initiatives and projects incubated and launched during his tenure. He is a graduate in Physics from Bombay University (now Mumbai University) and also holds a Masters degree in Financial Management from Mumbai University. He is also a Fellow of the Insurance Institute of India (FIII). He is currently the Chief of Business Development, Operations & New Projects at CDSL.
Chief Business Officer, BSE Ltd.

Shri Sameer Patil spearheads the entire BSE group’s Business Development and Marketing function which includes trading and distribution functions, as well as the strategic ventures of the exchange. He is instrumental in BSE’s business expansion and leadership in newer areas such as interest rate options, and commodity derivatives markets. He played a key role in conceptualization and setting up of India’s first International Exchange in GIFT CITY IFSC – “INDIA International Exchange “– where he oversees the Business Development and Marketing function. HE is also credited with the launch of first of its kind outbound trading platform – ‘India INX GA’ in GIFT CITY IFSC, for Indian Investors to access Global Exchanges like CME, LME, ICE etc. He has played a key role in the conceptualizing Spot Exchange for Gold in both GIFT city and India Domestic Zone and launch of World’s first ‘Options in Goods’ contract in commodity segment.
He was earlier associated with MCX as one of the core founding team members responsible for the setup of the commodity exchange in India. He is credited for successful launch of the flagship contracts - Gold, Silver, WTI Crude Oil and Copper contracts at MCX. During his tenure at MCX, he was also instrument in successfully launching and heading business functions at domestic exchanges like MCX and MCX-SX, and International Exchanges including Dubai Gold and Commodities Exchange, Singapore Mercantile Exchange, Bahrain Financial Exchange, Global Board of Trade, and Bourse Africa (Botswana). He began his career with K J Investors Services (I) PVT LTD, an affiliate of Cargill Investors Services, Illinois, Chicago, USA as Senior Financial Analyst. He currently serves as a member of the Board of Directors of India International Exchange, India International Clearing Corporation, India INX Global Access, Indian Clearing Corporation Limited, BSE E-Agricultural Markets and CDSL Commodity Repository Limited. He is considered a credible and trusted domain expert in diverse areas ranging from commodities trading, Index development, hedging strategies, financial product design & launch, and physical market outreach. He was awarded the “India UAE business Ambassador of the year 2018” at Abu Dhabi for his achievements in financial markets globally. He is Science Graduate and MBA in Finance from Mumbai University.
Shri Pitambar Chowdhury is the Managing Director and CEO of CCRL since 1st of November 2019. He is a Business Manager with over 30 years of professional experience, of which 20 years have been in senior leadership positions. His prior responsibilities include leadership responsibilities in Tata Asset Management Ltd, Aviva Insurance Plc, SBI Funds Management Ltd and Unit Trust of India. He has also been an entrepreneur in the Fin-Tech space for about 3 years. He has a Bachelor’s degree in Science and a Management degree from Jamnalal Bajaj Institute of Management Studies, Mumbai. He is also a Certified Associate of the Indian Institute of Bankers.