Chairman, FICCI Higher Education Committee
Mr Mohandas Pai is the Chairman, FICCI Higher Education Committee. He is the Chairperson of the Board of Manipal Global Education Services and Advisor to the Manipal Education and Medical Group. He is also on the Board of Havells India Limited and Ascendas Property Fund Trustee, as Trustee-Manager of Ascendas India Trust.
He co-founded Aarin Capital Partners to fund opportunities in Health Care, Life Sciences, Education and Technology. He has also co-founded Reservoir Investment Managers to launch Exfinity Technology Fund I focused on providing capital and operational support to technology companies with an India base or focus.
Prior to this, he was a Member of the Board at Infosys Ltd. He served Infosys as the Chief Financial Officer from 1994 to 2006. 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 & Facilities. Mr Mohandas Pai was Chairperson of the Board of Infosys BPO Limited, a globally leading business process outsourcing services provider, for seven years. Additionally, the FinacleSM and Platform Group business units reported to him. In June 2011, Mr Mohandas Pai stepped out of Infosys to pursue his other long-standing passion – higher education for human development.
In April 2015, the President of India awarded him the Padma Shri in recognition of his efforts for the betterment of the nation in areas of Trade and Industry.
As CFO at Infosys, Mr Mohandas Pai played a strategic role in transforming the Company into one of the world’s most respected and widely known software services companies based out of India. He formulated the country’s first publicly articulated corporate financial policy, played a pivotal role in branding the company amongst the investor community and reset standards in transparency and disclosure across the Indian corporate sector.
Mr Mohandas Pai instituted several industry-firsts in the Country. He was instrumental in instituting India’s first employee stock option plan that enabled employees across Infosys to be part of and consequently to share in the wealth creation by the company. In India, this was the first ever employee stock option plan, which subsequently has been widely emulated. At Infosys, Mr Mohandas Pai led the first listing of an India-registered company on the NASDAQ and the first sponsored secondary offering of American Depositary Shares by an Indian company. Mr Mohandas Pai was an early adopter of US Sarbanes Oxley regulations, considered the world’s most demanding requirements on corporate governance. Infosys was among the first corporations outside of the United States of America to comply with this regulation, two years ahead of the deadline for implementation mandated to foreign filers.
As Chief Financial Officer, Mr Mohandas Pai won multiple awards in Finance & Accounting. He was voted ’CFO of the Year’ in 2001 by IMA India (formerly EIU – India) and American Express, the first time ever that the award was given. He also won 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 AsiaMoney in 2004. He was honored with the Kannada Rajyotsava Award for his exemplary public service. Under his supervision Infosys’s 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 Asia Federation of Accountants.
He has taken up many roles to provide high quality governance or in policy formulation both nationally and globally including Chairman of SEBI Primary Markets Advisory Committee (PMAC), Member on the Boards of IIT, Hyderabad and IPE, Hyderabad, trustee of the International Financial Reporting Standards (“IFRS”) Foundation, member of the Board of the Securities and Exchange Board of India (SEBI) and, was for many years, member of SEBI’s sub-committee on Accounting Standards, member of the Dr Anil Kakodkar Committee on Autonomy for the IITs, member of various important national committees like the Kelkar Committee, constituted by the Ministry of Finance, GoI to reform direct tax regulations.
He was also a Member of the Non-Resident Taxation Committee, the High Powered Committee on e-Commerce and Taxation, the Empowered Committee for setting up the Country’s Tax Information Network, 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, chairperson of the Karnataka ICT Group 2020 and a member of the Karnataka Knowledge Commission.
He is also a keen philanthropist who set up the Akshaya Patra Foundation in Bangalore along with other like minded persons, which today delivers a hot midday meal to over 1.4 million school children in 11,000 government schools across 9 states in India. Mr Mohandas Pai continues to make substantial contributions of his personal wealth to the program. This initiative has become the largest mid-day meal program in the world.
Mr Mohandas Pai holds a bachelor’s degree in commerce from St. Joseph’s College of Commerce, Bangalore, and a bachelor’s degree in law (LLB) from Bangalore University. He is also a Fellow Member of the Institute of Chartered Accountants of India.