In a career spanning over 30 years, Mohandas Pai has served in the areas of finance, accounting, information technology, human resources, education, social impact innovation, environmental conservation, policy formulation, heritage preservation, philanthropy, and the venture and startup ecosystem.
Mohan is currently the Chairman of Aarin Capital, Chairman of Manipal Global Education, an Advisor to the Board of Manipal Education and Medical Group, a Member of the Board of Havells India, a Member of the Board of Ascendas Property Fund Trustee, the Trustee-Manager of Ascendas India Trust, Member of the Boards of Manipal University and the Institute of Public Enterprises, Chairman of FICCI Skills Committee, President of the All India Management Association, Chairman of the Regulatory and Financial Technology Committee of the Securities and Exchange Board of India (“SEBI”), Founder-Trustee of the Akshaya Patra Foundation, an Investment Committee Member of the SIDBI India Aspiration Fund and the India Fund of Funds, and a Member of the Board of the National Stock Exchange of India.
He was awarded the Padma Shri award by the President of India in 2015 and the Karnataka Rajyotsava Award in 2004.
He is the co-founder and Chairman of Aarin Capital, a private equity fund, that invests in companies and funds that focus on innovation in technology, education, health care, and life sciences. He has helped launch over 14 different investment vehicles across private equity and venture capital which have cumulatively invested in over 250 companies with a capital base of $400+ Million. He has worked with the Government of India to bring in a Startup Policy for the country, and the Governments of Karnataka, West Bengal, and Rajasthan on their respective Startup Policies for innovation and entrepreneurship. Mohan is also an Investment Committee Member of the SIDBI India Aspiration Fund and the India Fund of Funds which has a corpus of $1.8 Billion. His family office has invested in over 30 different investment vehicles to grow the startup ecosystem in the country. He is consistently named as one of India’s top angel investors.
Mohan currently serves on the Board of Manipal University, one of India’s leading educational institutions. He also serves on the Board of Institute of Public Enterprises in Hyderabad. He is the Chairman of Manipal Global Education Services Private Limited, which owns and manages technology, engineering, business, and medical universities in Malaysia, Nepal, Dubai, and Antigua. He headed the FICCI Higher Education Committee for over three years that created the Higher Education India 2030 report, now acknowledged as the leading thought paper in this domain.
Until 2011, Mohan was a Member of the Board at Infosys, one of India’s largest software services companies. Mohan joined Infosys in 1994 and was CFO from 1994 to 2006. He was voted ’CFO of the Year’ multiple times - ‘CFO of the Year’ in 2001 by IMA India, the ‘Best CFO in India’ award from Finance Asia in 2002, and ‘Best Chief Financial Officer in India’ in the Best Managed Companies poll conducted by Asia Money in 2004. At Infosys, he also spearheaded the first listing of an India-registered company on NASDAQ and the first sponsored secondary offering of American Depositary Shares by an Indian company. Under his supervision, Infosys’ annual report won the Best Presented Annual Accounts Award from the Institute of Chartered Accountants of India for 10 years in succession as well as the award from the South Asian Federation of Accountants. As CFO of Infosys, Mohan led efforts to set standards in India for financial reporting and disclosure, corporate governance, investor protection, overseas listing, foreign exchange regulations, overseas investments, quarterly reporting and investor relations, most of which are now embedded in listing regulations. He is widely regarded as a thought leader in these areas.
In 2006, he voluntarily relinquished the role to lead Human Resources, and Education & Research. He was also responsible for the Infosys Leadership Institute, Administration, and Infrastructure. During his tenure in HR and Infrastructure, Infosys recruited over 200,000 employees, trained over 250,000 employees - among the largest such endeavours in the world. Mohan also oversaw the construction of over 40 Million square feet of campus space all over India, winning multiple awards and set standards for quality and sustainability. Infosys has been recognised as the largest LEED Platinum/GRIHA certified campus builder in the world. Mohan led the team that articulated the sustainability practices for the company, reducing power consumption for over 200,000 people by 50% per capita and water consumption by over 40% per capita during the last seven years, and winning global recognition in the process.
Mohan was also Chairman of the Board of Infosys BPO Limited, a leading business process outsourcing services provider, for seven years. Additionally, the core banking software FinacleSM and Platform Group business units reported to him.
Mohan actively interfaces with key leadership in Indian governments and regulators to improve the business ecosystem. He served on the Board of the Securities and Exchange Board of India (“SEBI”) and as the Chairman of SEBI Primary Markets Advisory Committee (“PMAC”). Mohan was a Trustee of the International Financial Reporting Standards (“IFRS”) Foundation, the body that oversees the International Accounting Standards Board (“IASB”), for six years. He also served on the Boards of IIT’s – Bhubaneswar and Hyderabad. Mohan was a member of the Kelkar Committee, constituted by the Ministry of Finance, Government of India for reforming direct taxes, the Non-Resident Taxation Committee and the High Powered Committee on e-Commerce and Taxation. He was the Chairman of a High Powered Committee to define the IT Roadmap of the Central Board of Excise and Customs, named “DRISHTI”, for an IT-driven transformation in the Indirect Tax Administration. Mohan was also the Chairman of the Karnataka ICT Group 2020, Chairman of the Karnataka Tourism Vision Group, and a member of the Karnataka Knowledge Commission.
Mohan has a keen interest in education, health, policy, heritage conservation, philanthropy, and civic engagement. In 2000, he co-founded the Akshaya Patra Foundation, Bangalore - a mid-day meal program for school children. Today, this program feeds over 1.6 million children each day in 13,500+ government schools across twelve Indian states. The mid-day meal program stands out as an exemplary private-public partnership program and has served over 2.5 Billion meals so far. It aims to feed 5 Million children daily by 2020, and is currently the largest mid-day meal program in the world.
Mohan is also a key member and supporter of policy think tanks such as Gateway House, civic engagement groups such as Bangalore Political Action Committee, heritage conservation groups such as The Archive of Indian Music, and Vidhi Center for Legal Policy, a legal policy advisory group. He also founded the Bangalore Sports Club, supports the Bangalore Literature Festival and the Bangalore Little Theater Group every year. Mohan helped found the Vishwa Konkani Kendra to support over 15,000 Konkan-speaking students with scholarships in South India.
Mohan holds a bachelor’s degree in commerce as a University Rank Holder from St. Joseph’s College of Commerce, Bangalore, a bachelor’s degree in law (LLB) from Bangalore University, and is a Fellow Member of the Institute of Chartered Accountants of India as an All-India Rank Holder. He is based out of Bangalore, India.