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Non-Executive Director
Sudhir Maheshwari is the Founder and Managing Partner of Synergy Capital Corp. LLP. Over a 35-year career, Sudhir has had a varied and extensive experience in multiple areas, geographies and sectors and has lived and worked globally.
Sudhir was a leading and integral part in the creation of ArcelorMittal, the world’s largest steel company. He spent 27 years with ArcelorMittal, where he was a member of the Group Management Board, Alternate Chairman of the Corporate Finance & Tax Committee and the Chairman of the Risk Management Committee. On the Group Management Board, his responsibility included corporate finance, mergers, acquisitions and divestments; risk management; and India and China operations. He led most acquisitions, divestments and growth plans of the Group. Since the Global Economic Crisis of 2008, he was also responsible for key restructuring and special situations. Sudhir played a key role in all financing and tax structuring activities of the company. His experience extends to almost all types of financing, including debt, equity and equity-linked products. Many of the acquisitions and financings have won awards for being groundbreaking and innovative. The IPO in 1997, the 2006 financing to acquire Arcelor, and the refinancing post the 2008 global economic crisis, including equity raises in 2009 and 2013, are some key award-winning accomplishments.
Sudhir also managed Mittal Investments from 2008 until 2015. In this role, he structured equity investments of $ 1.5bn in assets of $ 8bn in natural resources, cement and infrastructure. His responsibilities included all aspects of the investment process, including deal sourcing, analysis, negotiation, execution, management, joint venture management and exits.
Sudhir is a Fellow of The Institute of Chartered Accountants of India and The Institute of Company Secretaries of India and an Honours Graduate in Accounting and Commerce from St. Xavier’s College, Kolkata. Sudhir is a British citizen of Indian origin living in Dubai and London and speaks English, Hindi, Bengali and basic German.

Non-Executive Director
Davinder has had a successful career at ArcelorMittal spanning over twenty years, of which the last ten years were served at the Group Management Board level.
Davinder led large businesses during his time at and within ArcelorMittal: as Senior Executive Vice-President and CEO of Africa & CIS, he was responsible for the mining and steel businesses in South Africa, Ukraine, Kazakhstan and Algeria; he oversaw and led ArcelorMittal International, an entity that exported steel products of the ArcelorMittal Group to territories where it did not produce steel; he headed Shared Services responsible for Purchasing, Shipping and Logistics, Legal, IT, Real Estate and By-Products management. He was also the CEO of ArcelorMittal South Africa, a large company quoted on the Johannesburg stock exchange.
In addition, Davinder was a member of ArcelorMittal’s Investment Allocation Committee and the core Mergers & Acquisition team. Davinder acquired highly transferable techno-commercial skills, a global view and expertise in performance audit, benchmarking and restructuring during his 35-year career with ArcelorMittal and Steel Authority of India Limited (SAIL). He is uniquely placed to advise and support businesses in emerging out of crisis and assuming market leadership.
Davinder has an MBA along with an undergraduate honours degree in Physics (B.Sc) and also has a Bachelors of Law (LLB) degree.

Non-Executive Director
Gunjan Beria has over 12 years of experience, having worked in diverse functions and industries, including Deloitte, Ernst & Young and Tata Steel. She has experience in audits, due diligence, transaction management and financial modelling.
Gunjan is a graduate in Commerce and a Chartered Accountant by profession.

Non-Executive Director
Mr SGK Kishore is an Electronics & Communications Engineer from Andhra University and holds a master’s degree in computer science from the Indian Institute of Technology (IIT), Bombay. A Rank holder during Engineering and a Gold Medalist during his Masters with a perfect-10 GPA, Mr Kishore’s illustrious career spans over 30 years across Government and Private sectors.
A 1989 Batch Officer of the elite Indian Administrative Service (IAS), Mr Kishore has held several important positions with the Government of India including:
- District Collector of Palakkad, Kerala
- Vice Chairman of Visakhapatnam Urban Development Authority (VUDA)
- South India Head for Food Corporation of India (FCI)
In 2006, Mr. Kishore resigned from IAS and took up a senior leadership role with the GMR Group. Over the years, within GMR Group, he has been the CEO of major Urban Infra/SEZ & City Development projects. In 2013, he took over as CEO of GMR Hyderabad International Airport with overall responsibility for the unique Hyderabad Airport Eco-system spanning the airport, the Airport City and various allied businesses.
From June 2020, Mr. Kishore took on the role of Executive Director and Chief Innovation Officer for GMR Airports, overseeing the functioning of Hyderabad and other GMR airport sector assets across South India and also leading the innovation efforts across GMR Airports under the ‘GMR Innovex’ banner.

Non-Executive Independent Director
Mr. Arun Balakrishnan superannuated as Chairman & Managing Director of Hindustan Petroleum Corporation Ltd (HPCL), a Fortune 500 Company, in 2010 after having joined the company as a Management Trainee in 1976.
A Chemical Engineer, with a Post Graduate Diploma in Management from the Indian Institute of Management, Bangalore, he has held functions such as Marketing, Operations, Import-Export, Human Resources, etc. at HPCL. He is also the Founder Chairman of HPCL-Mittal Energy Ltd. (HMEL),a Joint Venture Company of HPCL and L.N. Mittal Investments.
Additionally, Mr. Arun Balakrishnan is a Non-Executive Independent Director on the Boards of a number of prestigious companies in the Oil & Gas, Power, Real Estate, Space, Trading, Commodities Exchange, etc. He is the recipient of “The Distinguished Alumni Award 2008” from his alma mater, the Indian Institute of Management, Bangalore amongst others. In addition, Mr. Arun Balakrishnan has also been appointed as Honorary Chairman of the Institute of Directors, Bangalore.
He is also a Director on the Board of Linde India Limited, Rashtriya E Market Services Private Limited, Haldia Petrochemicals Limited, Pipeline Infrastructure Limited, Brookfield India Infrastructure Manager Private Limited, Yokogawa India Limited and Alphamers Limited.
Non-Executive Independent Director
He has experience of above 43 years since 1978. He was also associated with GMR Group for about 25 years. He has Joined the Group as Vice President- Finance and Company Secretary in 1996.
His experience covers all facets of Management covering Finance, Accounts, Corporate Secretarial services, Corporate Taxation, Administration and Human Resources departments of corporate entities of various industries viz. Steel Trading, Ship Building, Cement, Fertilizers, Bulk drugs, Rice bran oil extraction, Fluorocarbons, Magnetic tapes, Shrimp processing, Road Transport, telecommunications, Ferro Alloys, Sugar, Energy, Infrastructure, Airports and Coal mining.
He has provided services to Group Corporate Services (including Accounting, secretarial and taxation), Founders Business Office and Group Chairman Office of GMR Group.

Non-Executive Director
Mr. Ritesh Grandhi joined GMR Sports in 2020 and started as a net bowler for Delhi Capitals. He is now a part of the core think tank for cricketing operations at Delhi Capitals and Dubai Capitals.
As part of the team, he works to build and execute B2C and D2C retail strategies to maximise GMR Sports’ brands’ value across different geographies. Following GMR’s acquisition of a cricket county in the UK, Mr. Grandhi serves on the board of Hampshire Cricket County Private Limited, where he will lead business operations.
He holds a Bachelor of Engineering in Engineering Management from Loughborough University, UK (Upper Second-Class Honours). (2020–2023). In 2024, he completed a two-month long internship as part of the research analyst team at Jefferies, Mumbai. He also represented the GMR family in the Young Owners Forum and was the youngest family representative in Stonehage Fleming's Next Gen Conference.
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TRUSTEES OF THE BONDS
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- Catalyst Trusteeship Limited
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- GDA House, First Floor, Plot No. 85, S. No. 94 & 95, Bhusari Colony (Right) Kothrud Pune-411038, Maharashtra, India
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- +22 66807200
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- dt@ctltrustee.com
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- IND000000034
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- WAISL LIMITED
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- Ms. Karishma Aggarwal, CS & Compliance Officer
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- Integrated Registry Management Services Private Limited
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- No 30 Ramana Residency, 4th Cross Sampige Road, Malleswaram, Bengaluru – 560003
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- Prior intimation of board meeting (21.07.2025)
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- Prior intimation of board meeting (12.11.2024)
- Prior intimation of board meeting (13.08.2024)
- Prior Intimation of board meeting (27.05.2024)
- Prior intimation of board meeting (31.01.2024
- Prior intimation of board meeting (13.11.2023)

