We help you decide.

www.acuite.in Registered with SEBI | Accredited by May 2020

www.acuite.in RBI
Acuité means sharpness of thought and intellect

Acuité We believe, sharpness of thought and vision is the

is a French word true ingredient of high quality credit ratings that
empower the capital market participants viz.
pronounced as investors, issuers or lenders, to make knowledge
a.kui.teh backed decisions.

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Our foundation: Vision, Mission & Values

Vision Help financial market grow and be more efficient

Empower market participants through timely

Mission information, incisive analysis and unbiased
opinion

Our values define our actions at every step of

Values doing business

Trust | Innovation | Excellence

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Our reputed institutional owners: Credibility & Reputation

 Acuité is promoted by reputed institutions that includes country's leading public & private sector
banks
 D&B - a global data & analytics company and pioneer in credit ratings is a co-promoter

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 Our journey: Achievements & Capabilities

Our capabilities beyond Ratings

Analytical team comprises
include:
Engineers, MBAs, CAs and
• Industry Research
CFAs with experience of
• Economic Research
rating a large number of
• Demand modelling
corporates and financial
• Rating modelling
sector players across varied
• Loss Estimation
sizes
• Application Design & Development

Received SEBI
Active research on over 30 Assigned 8,100+ credit
registration in 2011 and ratings to various
industry verticals and
accreditation from RBI securities, debt instruments
Indian economy made
for Bank Loan Ratings for and bank facilities of
available to all Bankers
Basel II in 2012 entities spread across
through “Bankers’
Connect” industries

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Our portfolio of services: Ratings & Research

Credit Rating Independent Research

- Long term instruments: Bonds, Debentures, • Indian Economy

Preference Shares et al. • Industries covered (select few)
- Short term instruments: Commercial Paper - Auto ancillaries - Mining
(CP) and Short term NCDs
- Cement - Power
- Bank loans of all types including Cash Credit
- Chemicals - Real Estate
(CC), Working Capital Demand Loans
(WCDL), Term Loans et al. - Ferrous metals - Sugar
- Non-fund based facilities such as Letter of - Fertilizers - Telecom
Credit (LC), Bank Guarantee (BG) et al. - Gems & Jewels - Textiles
- Fixed Deposits (FDs) - Infrastructure - Tourism &
- Retail Securitization transactions: Pass Hospitality
Through Certificates (PTCs) or Direct - Machinery
Assignments (DA)
- Security Receipts (SR)
- Independent Credit Evaluation (Resolution
Plan Ratings)

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 Our differentiators: Technology driven solutions

RatingsBuzz: a mobile app that provides easy access to all our ratings

QR Code in all Rating Communications: making our rating reports and rationales
easily verifiable – An industry first

Rating Management Application: the app ensures process automation for

compliance, quick response and exquisite service

Bankers’ Connect: A platform to collect bankers’ and investors’ feedback on Acuité

rated entities, thereby ensuring immaculate stakeholder experience

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Our Board of Directors: Experience, Integrity & Diversity
Mr. S.S. Mundra
Non-Executive Chairman
Ex Deputy Governor, Reserve
Bank of India
Ex Chairman & Managing
Director, Bank of Baroda
Mr. Arun Tiwari
Director
Ex Chairman & Managing
Director, Union Bank of India
Prof. (Ms.) Pushpa
Trivedi
Independent Director
Professor and Head of
Department of Humanities and
Social Sciences, IIT-Bombay
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Mr. Sankar Chakraborti
CEO & Executive Director
24 years experience in credit
ratings & research (CRISIL, CMIE);
Independent Director – IOCL,
Member – Working Committee of
IBBI, Member – Capital Markets
Committee of FICCI
Mr. Saurabh Shah
Director
Director- Finance, D&B India
Mr. Hiren Shah
Independent Director
Information Security Expert Ex-
Chief Information Officer, CRISIL
Mr. Rajesh Mirchandani
Director
CEO, Dun & Bradstreet South
Asia & Middle East
Mr. Chitta Ranjan Biswal
(IAS)
Independent Director
Chairman of Pay Revision
Commission, Telangana state
Mr. A. K. Deb
Director
Ex-CGM, SBI
Our Management Team: Highly Experienced in Ratings
Suman Chowdhury
Chief Analytical Officer
23 years experience in credit
ratings & research, leadership
roles in CRISIL and ICRA for 18
years, additional experience in
ICICI Bank Credit Risk
Reshma Polasa
Head, Business Process Excellence
8 years experience in ratings
industry spanning process
management and re-engineering,
business development, and leading
a team of IT application design and
development
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Antony Jose
Chief Rating Officer
19 years experience in credit
ratings and education services,
including 11 years in CRISIL.
Gaurav Bhutiani
Vice President & National Head
Business Development
13 years experience in Business
Development, Key Account
Management and Revenue
Generation across Credit Rating,
Banking, IT & Consulting
industries
Vinayak Nayak
Vice President, Financial Sector
25 years experience in credit and
credit ratings in banks and rating
agencies including SBI and CRISIL
Chitra Mohan
Vice President, Compliance &
Company Secretary
Founding member of the company.
15 years experience in
compliance
Aditya Gupta
Vice President, Corporate &
Infrastructure Sector
12 years experience in credit
ratings and investment research
at CRISIL and ICICI Bank with
strong domain knowledge of
rating companies in corporate
and infrastructure sector
Hitesh Khona
Vice President, Accounts & Audit
A Chartered Accountant with 15
years experience in managing
corporate finance function
including treasury, banking,
accounting, taxation, strategy,
and fund raising across retail,
manufacturing and automobile
sectors
Our Mentors

G.S.R.K. Rao V Chandrasekaran

Legal Advisor Mentor, Centre of Excellence

40 years experience in Former Executive Director

banking and credit ratings, (SIDBI), with over 35 years of
ex-Executive Director-CRISIL experience and member of
founding team of Acuité

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Organization Structure

Acuite
Acuite Board
Board

Rating Sub-
Sankar
Sankar Committee
Chakraborti, CEO (Board
(Board members)
members)

Gaurav
Gaurav Bhutiani,
Bhutiani, Suman Chowdhury, Antony
Antony Jose,
Jose,
Corporate
VP-Business Chief Analytical Chief Rating
Functions
Functions Development Officer Officer

Chitra
Chitra Mohan,
Mohan, Aditya Gupta, VP
Loretta Vinayak Nayak,
VP-Compliance & -- Corporate
Corporate &
&
Fernandes,
Fernandes, AVP
AVP -- VP - Financial
Company Infrastructure
HR & Admin Sector Infrastructure
Secretary
Secretary Sector

Hitesh Khona,
VP- Accounts & Karan
Karan Mehrishi,
Mehrishi,
Audit
Audit Lead Economist

Reshma Polasa,
Head
Head –
– Process
Process
Excellence

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 Rating committee: A mix of external and internal
members
 The rating committee constitution at Acuité comprises external (independent) and internal members in the proportion 4 : 1

 The committee has complete independence to decide the ratings based on majority opinion through voting after the case is
presented by the analysts to the rating committee

Suman Chowdhury Vinayak Nayak Pooja Ghosh Aditya Gupta

23 years experience in 25 years of experience in 13 years of experience in 12 years of experience in

credit ratings & research, credit and credit ratings credit ratings industry credit ratings and
leadership roles in CRISIL in banks and rating investment research at
and ICRA for 18 years, agencies including SBI CRISIL and ICICI Bank
additional experience in and CRISIL with a strong domain
ICICI Bank Credit Risk knowledge of rating
companies in corporate
and infrastructure sector

V Chandrasekaran Asit Pal A J Bose Vasant Kamath

(External Member) (External Member) (External Member) (External Member)
Former Executive Director Former ED, Corporation Ex-General Manager, Ex-General Manager,
(SIDBI), with over 35 Bank, with 32 years of State Bank of India, with Bank of India, with
years of experience and experience in banking; 34 years of experience in around 40 years of
member of founding team independent director on banking. experience in banking
of Acuité the boards of multiple
companies.

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 Rating committee: A mix of external and internal
members

Sachin Mathur Pradeep K Jain Sardendu Singh

Karan Mehrishi
(External Member) (External Member) (External Member)

Over 20 years of Ex-Chief Manager, State 13 years of experience Ex-DGM, Dena Bank with
experience in Research Bank of Indore with 20 as an Economist in 35 years of experience in
and Academics years of experience in various companies banking encompassing
banking and 10 years in ranging from Print media, Credit, Credit Monitoring,
Corporate Finance banking, healthcare and Merchant Banking, Forex
financial sector and Treasury and
Inspection and Audit

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 Criteria committee: Member Pool

Suman Chowdhury Vinayak Nayak V Chandrasekaran Vasant Kamath

(Chairperson) (External Member) (External Member)
(Alternate Chairperson)

23 years experience in credit
ratings & research, leadership
roles in CRISIL and ICRA for 18
years, additional experience in
ICICI Bank Credit Risk
25 years of experience in
credit and credit ratings in
banks and rating agencies
Ex-General Manager,
Former Executive Director
Bank of India, with around 40
(SIDBI), with over 35 years of
years of experience in banking
experience and member of
founding team of Acuité

Sankar Chakraborti Antony Jose Aditya Gupta Karan Mehrishi

24 year experience in credit
ratings & research (CRISIL,
CMIE); Independent Director –
IOCL, Member – Working
Committee of IBBI, Member –
Capital Markets Committee of
FICCI
19 years of experience in
credit ratings and education
services, including 11 years in
CRISIL
12 years of experience in credit
ratings and investment research
at CRISIL and ICICI Bank with a
strong domain knowledge of
rating companies in corporate
and infrastructure sector
13 years experience as an
Economist in various
companies ranging from print
media, banking, healthcare
and financial sector. Karan has
completed his MA in Business
and Economics from Columbia
University, USA

 Criteria committee reviews (once in a calendar year) and approves the rating criteria and methodologies for
various instruments

 Acuité’s rating criteria is available at https://www.acuite.in/rating-criteria.htm

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 Our clientele: Across locations, sectors and size
 Adani Enterprises
 Adani Power (Mundra)
 Ashoka Buildcon
Sector
Corporate Sector
 Embassy One Developers
 Future Retail
 Future Enterprises
Private Corporate
 Lux Industries
 Hinduja Energy (India)
 Nxtdigital (formerly Hinduja
Ventures)
 Indusind Media and
Private
Communications
 Emami Cement
 Shapoorji Pallonji & Co.
 Acme Cleantech Solutions
 H-Energy Gas Marketing
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 Nuclear Power Corporation of India
 UCO Bank
 National Small Industries Corporation
 The Jammu & Kashmir Bank
 The Cotton Corporation of India
 Avendus Finance
 MSTC Limited
 Genev Capital
 ITI Limited
 North East Small Finance Bank
 The Braithwaite Burn & Jessop Cons Co.
 HDFC Ergo Health Insurance
 Chhattisgarh East Railway
Sector
Financial Sector
 Gujarat State Investments  ECL Finance
Sector
Public Sector
 Edelweiss ARC
 AP Capital Region Dev. Authority
 Andhra Pradesh Gas Distribution  Edelweiss Retail Finance
 Magma Fincorp
Financial
Company
Public  West Bengal State Elec. Distribution Co.  MAS Financial Services
 Odisha Power Generation Corporation  Fedbank Financial Services
 Haryana Vidyut Prasaran Nigam  SREI Equipment Finance
 Indore Municipal Corporation  Tourism Finance Corporation
 Bhopal Municipal Corporation  Kerala Finance Corporation
 Lucknow Municipal Corporation  A.K. Capital Finance
 Karnataka Water & Sanitation Pooled  Trust Capital Services
Fund Trust  Electronica Finance
 Madras Fertilizers Limited  Cashpor Micro Credit
 We help you
Decide

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 +91 22 4929 4000  info@acuite.in +91 99698 98000

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